YouTube to Stream Hollywood Movies

Google’s YouTube is set to officially challenge Apple’s iTunes and Netflix for the growing film-streaming market.

A report by website The Wrap claims that YouTube will begin streaming Hollywood blockbusters from three major studios starting next week, if not earlier. According to the report, Sony Pictures Entertainment, Warner Brothers, and Universal have agreed to license their movies for streaming through the YouTube network, which boasts of some 130 million users each month. Paramount, Disney, and Fox have reportedly decided not to join the service for now, but some smaller companies, such as Lionsgate and Kino Lorber, have committed to license their films.

YouTube has been offering movie on demand for smaller, independent films since last year, but if true, this will be the first time that the video-streaming giant is teaming up with major Hollywood studios. YouTube’s entry into the movie-streaming market is expected to pose a major threat to the dominance of iTunes and Netflix, which currently has 23.6 million subscribers in the U.S., according to the Guardian.