YouTube’s new on-demand movie service locking horns with iTunes

April 27th, 2011 - 2:35 pm ICT by ANI  

London, Apr 27 (ANI): It has emerged that Google Inc.’s YouTube is launching its own on-demand Hollywood film stream, a move that would position theonline video giant to compete directly with Apple’siTunes.

The service is expected to begin as early as this week after having licences granted by major studios including Sony, Warner Brothers and Universal, reports the Daily Mail.

Many independent movie studios have also signed up to the YouTube service, including Lionsgate and Kino Lorber.

According to executives close to the deal, YouTube bosses have been working hard to secure the agreement of all major Hollywood studios before officially announcing the deal.

The service will provide a substantial new revenue stream for Hollywood studios, at a time when home entertainment revenues continue to decline.

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. (ANI)

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