YouTube in Hollywood talks on movie rentals
Los Angeles: YouTube is in advanced talks with major Hollywood studios about adding a movie rental service, in a move that could boost online movie rentals and finally allow Google to make a profit from the hugely popular video site, according to a media report Thursday.
YouTube executives are talking to representatives of Lions Gate Entertainment, Sony Corp, MGM and Warner Bros about charging for new movies on the site, the Wall Street Journal reported.
YouTube originally proposed allowing users to watch movies for free with advertisers picking up the cost, but the movie studios insisted on payments for both movie rentals and downloads at a rate of $3.99.
Some movies already make older films available for free on YouTube but the new initiative could even screen movies on the same day they come out on DVD.
YouTube is by far the most popular video site on the web, with 428 million global visitors in June, according to web tracking firm Comscore.
More from India
More from World
More from Sports
More from Entertaiment
- Watch - Huge fire breaks out at petrol pump in Kota, Rajasthan
- NSG now 'nine times' stronger; receives technological strength from 12 countries!
- RJD strongman Shahabuddin brought to Delhi
- UP elections in third phase; voting on 69 seats of 12 districts
- Panel discussion over why SP government is backing Gayatri Prajapati
- 'BJP is winning by absolute majority in Uttar Pradesh Assembly elections'
- 7th Pay Commission: Allowances committee raises HRA to 30%?
- Virat Kohli thanks sprint legend Usain Bolt for congratulating on 'record' Puma deal
- J&K: 26 soldiers martyred, 22 militants killed as Army steps up security in Valley
- Virat Kohli becomes first Indian sportsperson to sign Rs 100-crore endorsement deal