iTunes movie rentals? Maybe soon

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According to Financial Times (FT), Apple is planning to launch this new movie rental service this fall. If the talks with Hollywood producers are successful it may come much earlier than expected. Initial signs of this movie rental service have already been seen in iTunes with options of movie rentals by bloggers. So, if this Financial Times report is accurate it should be available soon.

The deal with Hollywood producers will allow iPod users to watch the movie during the rental period without having to purchase the whole movie. I think many iPod users would love this rental service and watch movies conveniently. It is much a better option than movie rental services like Netflix, Blockbuster, now there will be no worries about botched movies and lack of availability of popular movies.

This iTunes movie rental service will also go head to head against the cable and satellite TV providers who offer on-demand movies. Cable and Satellite TV offer the movies at a higher rate and each movie can be watched either only for one time or for a day at most. It has been lucrative for them in the absence of competition, once iTunes movie rentals are in service they may see a decline in their movie rental sales.

With Apple TV you will also have an additional option of watching the movies in big screen TVs.

Rights management software would allow the movies to be viewed on an iPod or iPhone, but would prevent them from being copied, according to Financial Times.

Apple already sells films online, including titles by Walt Disney and Paramount. The titles however are limited because many Hollywood producers either demand a high price for it or feel reluctant to sell via Apple.

According to FT, the major studios like Sony, 20th Century Fox, Paramount and others have declined to talk about their deal with Apple or about this subject.

It is excellent news, with iTunes movies rentals, you can watch in your computer, iPod or iPhones, or in the big screen TV. It is a great value, for a low fee and a long rental period; we can watch the movie at leisure. This movie rental service might be one of the reasons Apple launched newer versions of iPods, Nano, Touch and also lowered the prices of iPhones recently.

What do you think about this iTunes movie rental service?