After a failed live TV effort Apple is once again pressing Hollywood studios for earlier access to movies, according Bloomberg, a move that would bolster the company’s iTunes business. Yet this is not the first time a company has tried this. Amazon was rumored to be pushing for this deal but was never able to make it happen.
21st Century Fox Inc., Time Warner Inc.’s Warner Bros. and Comcast Corp.’s Universal Pictures all confirmed recently that they are looking to offer high-priced, home-video rentals of new movies shortly after they open in theaters. Most major movies that debut in theaters are not available on iTunes and other streaming platforms for a period of 90 days, (down from what use to be 6 months or even longer) but film companies are said to be looking to expand beyond theaters to find new revenue streams.
Some studio executives have been pushing to allow home rentals as early as two weeks after theatrical debuts and are considering a deal with iTunes as one option, said the people, who asked not to be identified because the discussions are private. Yet there will be a high price as it is rumored that these rentals will costs between $25 to $50 for a new rental, which is potentially more affordable than a movie theater ticket depending on how many people are watching a film.
Hopefully a deal will come together but it could mean the death of many movie theaters around the US. It is likely if one gets the deal others will soon follow.
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