YouTube has reportedly signed deals with several major studios to offer their movies for rent through the site, according to The Wrap.
The new service means a full-bore challenge to Apple’s iTunes service – currently the most powerful player in paid video streaming -- and a welcome new revenue stream for Hollywood as home entertainment revenues continue their steep decline. The service may start as early as this week or next, and is expected to be announced soon by YouTube.
The Wrap has heard that Sony Pictures Entertainment, Warner Brothers and Universal have licensed their movies for the new service; however, Fox, Paramount, and perhaps Disney have not. They believe YouTube is trying to get all major studios on board before making an announcement.
"We've steadily been adding more and more titles since launching movies for rent on YouTube over a year ago, and now have thousands of titles available," a YouTube spokesperson said. "Outside of that, we don't comment on rumor or speculation."
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The new service means a full-bore challenge to Apple’s iTunes service – currently the most powerful player in paid video streaming -- and a welcome new revenue stream for Hollywood as home entertainment revenues continue their steep decline. The service may start as early as this week or next, and is expected to be announced soon by YouTube.
The Wrap has heard that Sony Pictures Entertainment, Warner Brothers and Universal have licensed their movies for the new service; however, Fox, Paramount, and perhaps Disney have not. They believe YouTube is trying to get all major studios on board before making an announcement.
"We've steadily been adding more and more titles since launching movies for rent on YouTube over a year ago, and now have thousands of titles available," a YouTube spokesperson said. "Outside of that, we don't comment on rumor or speculation."
Read More