Apple CEO Steve Jobs on Tuesday announced that the company will offer movie rentals through its iTunes store. Apple cut deals with every major studio, including 20th Century Fox, Paramount, Sony, MGM and NBC Universal, to sell movies through the store.
Rentals are $3.99 for a new release and $2.99 for older films, or a dollar more for high-definition versions.
The movie rentals are now available in the United States and later this year internationally. Apple pledged to have 1,000 films available by the end of February, and films will come to iTunes 30 days after their DVD release.
Users will have 30 days to watch a film after renting it, and 24 hours to finish watching it after they have started.