YouTube is to take on movie-rental services
such as Netflix, iTunes and Amazon with its own video-on-demand
service, film industry blog TheWrap.com reported Tuesday.
The world's largest video-sharing site is set to introduce the new service -- featuring films from major Hollywood studios like Sony Pictures Entertainment, Warner Bros. and Universal Studios -- within the next week or so, the report said.
YouTube has been making independent movies available for rent for several months, but the new initiative with the major Hollywood studios marks a big step toward mainstream movie availability on the Google-owned site, which attracts more than 130 million users every month.
The report said that Paramount, Disney and Fox have so far declined to make their movies available on YouTube.
YouTube has for months been trying to move away from its reliance on user-generated content. Reports earlier this month said the company was wooing celebrities to create branded channels that would offer tougher competition to traditional television.
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