YouTube To Launch On-Demand Hollywood Movies Service
YouTube will challenge Apple's worldwide supremacy in downloadable movies services by launching its own on-demand Hollywood movies stream, it has been revealed. The world's largest video sharing site will begin streaming Hollywood movies as early as this week after having licenses granted by major studios including Sony, Warner Brothers and Universal.
The service will provide a substantial new revenue stream for Hollywood studios, at a time when home entertainment revenues continue to decline. A spokesperson for YouTube stated that it has already rented movies for a year, but would not comment further on the plans.
As part of the agreement, YouTube's 130 million monthly users will be able to pay to watch movies as they come out into the DVD market.