Apple launches iTunes movie rentals

As had been widely expected, Apple today announced the availability of video rentals from the iTunes Store. Up until now you could only buy movies and TV shows, with no lower-priced rental option. Competitors like MovieLink, CinemaNow, and Amazon Unbox have been offering rentals for some time now, but none has become the household name that Apple's iTunes is.

Steve Jobs announced the move during his Macworld keynote today. Rentals are available starting today and about 1,000 films should be available from the iTunes store by the end of February. Apple will charge $2.99 for regular titles, $3.99 for new releases, and a dollar more for HD content.

Movies will be viewable for up to 24 hours, and you can start watching 30 seconds after your download begins (assuming you have a fast internet connection). Probably the coolest feature is that you'll be able to transfer rentals to an iPod or iPhone for viewing on the go. While other services offer portable viewing options for purchased movies, this is the only way to rent a movie and take it with you on an iPod.

In related news, Apple and Fox have announced a partnership to include digital copies of movies that you can manage with iTunes on all DVDs the studio releases.

Tags: iTunes, movies, online-video, rentals