Apple to let iTunes users rent films
Apple, expanding its reach in consumer entertainment, will let iTunes users rent movies as well as buy them and add Fox and Warner Bros as suppliers, according to people familiar with the agreements.
By Bloomberg |
Los Angeles: Apple, expanding its reach in consumer entertainment, will let iTunes users rent movies as well as buy them and add Fox and Warner Bros as suppliers, according to people familiar with the agreements.
Joining News Corp’s Fox and Warner Bros in supplying rental films are Viacom’s Paramount, Walt Disney and Lions Gate Entertainment, which already sell movies through iTunes for at least $9.99 each, said two people who asked not to be identified because the plans aren’t public.
Apple will announce the rental service on January 15, the people said. New releases and older titles will rent for $3.99 for 24 hours. The lower-priced rentals and additional titles may help boost the popularity of Apple’s iPod media players, iPhone and Apple TV set-top box, which delivers shows to widescreen TV sets.
“Once a couple of studios do it, how long can the others resist?” Pali Capital analyst Richard Greenfield said in an interview. “It becomes only a matter of minutes before the others come on board too.”
Apple may also add News Corp’s Fox as a supplier of movie downloads, the Financial Times reported December 26. ITunes offers about 500 films for sale from studios including Metro-Goldwyn- Mayer.
Cupertino, California-based Apple declined to comment, said spokeswoman Natalie Kerris. Disney spokeswoman Kim Harbin declined to comment, as did Shaleek Wilson, a spokeswoman for Viacom’s Paramount, News Corp’s Julie Henderson and Lions Gate spokeswoman Sarah Greenberg. Warner Bros spokesman Jim Noonan didn’t return messages.
Apple may also announce support for Sony’s Blu-Ray high-definition DVD drives when chief executive officer Steve Jobs delivers the keynote speech at the Macworld conference in San Francisco on January 15, American Technology Research analyst Shaw Wu said.
Jobs may also use his speech to announce an update to Apple TV, which transmits content from a Mac or PC for viewing on widescreen TVs, Bear Stearns analyst Andrew Neff said in an interview.
Apple fell $6.39, or 3.6% to $171.25 on Monday in Nasdaq Stock Market trading. Its stock has doubled in the past 12 months.
Joining News Corp’s Fox and Warner Bros in supplying rental films are Viacom’s Paramount, Walt Disney and Lions Gate Entertainment, which already sell movies through iTunes for at least $9.99 each, said two people who asked not to be identified because the plans aren’t public.
Apple will announce the rental service on January 15, the people said. New releases and older titles will rent for $3.99 for 24 hours. The lower-priced rentals and additional titles may help boost the popularity of Apple’s iPod media players, iPhone and Apple TV set-top box, which delivers shows to widescreen TV sets.
“Once a couple of studios do it, how long can the others resist?” Pali Capital analyst Richard Greenfield said in an interview. “It becomes only a matter of minutes before the others come on board too.”
Apple may also add News Corp’s Fox as a supplier of movie downloads, the Financial Times reported December 26. ITunes offers about 500 films for sale from studios including Metro-Goldwyn- Mayer.
Cupertino, California-based Apple declined to comment, said spokeswoman Natalie Kerris. Disney spokeswoman Kim Harbin declined to comment, as did Shaleek Wilson, a spokeswoman for Viacom’s Paramount, News Corp’s Julie Henderson and Lions Gate spokeswoman Sarah Greenberg. Warner Bros spokesman Jim Noonan didn’t return messages.
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Apple may also announce support for Sony’s Blu-Ray high-definition DVD drives when chief executive officer Steve Jobs delivers the keynote speech at the Macworld conference in San Francisco on January 15, American Technology Research analyst Shaw Wu said.
Jobs may also use his speech to announce an update to Apple TV, which transmits content from a Mac or PC for viewing on widescreen TVs, Bear Stearns analyst Andrew Neff said in an interview.
Apple fell $6.39, or 3.6% to $171.25 on Monday in Nasdaq Stock Market trading. Its stock has doubled in the past 12 months.
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