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Tuesday, April 26, 2011

YouTube to launch movie rental service

YouTube is launching a movie rental service in a partnership with Hollywood film giants including Sony and Warner Brothers, to rival Netflix and Apple's iTunes. Under the premium movie on demand service, film lovers will be able to stream new releases for as little as $2.

Three of the six major film studios, Sony Pictures Entertainment, Warner Brothers and Universal have reportedly agreed licensing terms with the Google owned video giant. In the US, Netflix dominates the nascent online movie streaming market. With 6 million subscribers. YouTube has signed up a number of high profile media executives, including former Netflix boss Robert Kyncl, in recent months as the site tries to move away from its user-generated video image.

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