The much rumored iTunes Movie Rental service is indeed becoming a reality…today!
Today Steve Jobs announced that every major studio is on board: Touchstone, Miramax, MGM, Lionsgate, Newline, Fox, WB, Disney, Paramount, Universal, and Sony.
Initially there will be over 1000 movies and in general movie rentals will be available 30 days after DVD release.
It will cost $2.99 for “library titles” (movies that are not new releases) and $3.99 for new releases. HD rentals will be $3.99 for library titles and $4.99 for new releases (only 100 titles available today in HD). You will have 30 days to start watching the movie after purchase and 24 hours to finish it once you have started.
Movies can be viewed on Mac or PC as well as on all current iPods and the iPhone. Movies will be streaming…meaning you don’t have to wait and download the full movie…you can begin watching instantly.
Available today in the US. Available internationally later this year.