Apple is in advanced discussions with the major Hollywood studios about the launch of an online film rental service according to the Financial Times.
Apple already offers several online features which include Disney and Paramount on a download-to-own basis from its iTunes Store. The proposed new service will deliver movies for $2.99 for a 30-day rental period. The service aims to compete with VOD services from cable operators, and with online movie rental companies like Netflix.
The Apple new offering will probably take place in the second last quarter of this year.