Reports: YouTube Expanding On-Demand Service26 Apr, 2011 By: Chris Tribbey
YouTube is close to expanding its movie-rental service to include new release films day and date with DVD, The Wall Street Journal and The Wrap reported.
Quoting anonymous sources, the news outlets reported Sony Pictures, Warner, Universal and Lionsgate have licensed their films for the service, which would offer new-release titles for streaming before they would be available on Netflix.
“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 spokesman said in a statement. “Outside of that, we don't comment on rumor or speculation.”
The sources did not disclose pricing, but an unnamed studio executive told The Wrap the VOD service would be a welcome additional source of revenue.
“What’s really good about their approach is rather than another subscription offering, they’re going into a fresh area where there have been fewer leaps forward," the executive told the website.
YouTube first began offering streamed rental titles in January 2010, beginning with a handful of independent films from the Sundance Film Festival, for $3.99 each.