Apple CEO Steve Jobs announced Tuesday, during his Macworld Expo keynote address, that iTunes will be venturing into the movie business.
On Tuesday, iTunes began renting movies over the internet.
By making deals with major movie companies including 20th Century Fox, The Walt Disney Studios, Warner Bros., Paramount, Universal Studios Home Entertainment, Sony Pictures Entertainment, Metro-Goldwyn-Mayer, Lionsgate and New Line Cinema, Apple plans to tap what The Digital Entertainment Group says was a $23.4 billion revenue in DVD sales and rentals in the United States in 2007.
This new iTunes service allows anyone with an iPod or iTunes to rent a downloadable, DVD-quality movie. Standard movie rental will cost $3, while new releases will be $4.
Analyst say this service has the pontential to change with people rent and watch movies.
According to Apple, it intends to have upwards of 1,000 films to choose from for rental by next month.
Source link: http://www.wired.com/gadgets/mac/news/2008/01/macworld_keynote
Other related links:
http://www.macworld.com/article/131580/2008/01/itunesmovierentals.html
http://www.nytimes.com/2007/12/28/technology/28apple.html
http://blog.wired.com/gadgets/2008/01/is-the-24-hr-li.html
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