Asia Bizz: Video sharing giant YouTube has recently announced its new service of on demand Hollywood movies, to compete against the services of Apple. The users will be provided with Hollywood movies on demand, and will be in direct competition to Apple.

The service is likely to start this week and has also got the licenses from popular studios like Universal, Warner Brothers and Sony. YouTube has decided to launch the service to compete with the already existing and successful Apple’s iTunes service.

The much awaited service will soon be announced on YouTube. As of now, the on-demand movie monopoly is maintained by Apple. People behind finalizing the deal have said that the executives are trying their best to secure the deals with many of the major studios for the service.

Moreover, many of the independent studios too have joined in to be a part of the service, which includes Kino Lorber and Lionsgate. Many of the major studios have signed up, while the other big names like Disney, Fox and Paramount are yet to join the company. A spokesperson from YouTube has said that it already has rented movies, which would be sufficient for the whole year. No further details of the contract were revealed although. The service will demand the users to pay an amount to order a movie.


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