YouTube to Offer Movie-On-Demand Service

YouTube will reportedly offer on-demand streaming rentals of new movies, a service which could begin as early as next week, The Wrap reports.

Sony, Warner Bros., and Universal are among the studios that have reportedly inked deals with the popular video sharing website, as have numerous independent studios including Lionsgate and Kino Lorber. Movie executives with insider knowledge report that Paramount, Fox, and Disney have declined to participate. 

"What's really good about their approach is rather than another subscription offering, they're going into a fresh area where there has been fewer leaps forward,” an unnamed source said of the deal.

The new service is expected to offer streaming movies for rent the same day DVDs are available in video rental stores and iTunes. No word on what YouTube would charge for the service. For comparison, Apple charged rental fees as low as $2.99 when all the major studios signed on for the company’s VOD service in 2008.

Though YouTube initially declined to comment on the rumors, the company has since issued the following statement:

"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."

The Wrap believes YouTube will officially announce the service in the next day or two. Earlier this month, YouTube’s vice president of TV and film entertainment, Robert Kyncl, hinted that the company was working on a video streaming rental service.

Would you use YouTube to rent new movies?

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Categories: Entertainment

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