Now news (rumors) is coming out that they (Youtube) might launch their own movie on demand service for Hollywood movies.(according to The Wrap).
If this plan comes true then it could be major threat for Apple’s iTunes service which is currently the most powerful player in paid video streaming.
The service may start as early as this week or next, and is expected to be announced soon by YouTube.
Major studios including Sony Pictures Entertainment, Warner Brothers and Universal have licensed their movies for the new service, as have numerous independent studios, including Lionsgate and the library-rich Kino Lorber, according to movie executives with knowledge of the deals in place.
YouTube is working out with all the major Hollywood studios on board before announcing it, according to one executive involved in the deal. But so far Paramount, Fox and Disney have declined to join.(The Wrap)
Very well thought out move by Youtube.We feel its killer move and it could impact all other major players who are in movie business.