Google Inc.'s (GOOG) YouTube is talking with major Hollywood studios about providing movies for an online rental service that started January 23 with five independent films from the Sundance Film Festival, according to media reports on Saturday.
The discussions reflect Google's interest in expanding the fledging service, which offers the Sundance movies for 24 to 48 hours for $3.99, David Eun, Google's vice president for content partnerships, said on January 22 in an interview.
YouTube is seeking new ways to generate revenue. Record labels led by Universal Music Group started the advertising-supported Vevo site with YouTube in December. With movie rentals, filmmakers can decide how much to charge and retain all movie rights.
The movies will be available through the festival's Jan. 31 close, Sundance said in a statement.
GOOG finished Friday's trading at $550.01, on the Nasdaq.
For comments and feedback: editorial@rttnews.com