Apple wants earlier access to new movies, Bloomberg reports. Warner Bros, 20th Century Fox and Universal have all confirmed they’ve been in talks with Apple to offer home rentals as early as two weeks after a film’s theatrical release. Early access at home could cost between $25-50.
Bloomberg’s report reads: “21st Century Fox Inc., Time Warner Inc.’s Warner Bros. and Comcast Corp.’s Universal Pictures all confirmed over the past week that they are looking to offer high-priced, home-video rentals of new movies shortly after they open in theaters. 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.”
Bloomberg’s anonymous source added Apple’s desire to strike a deal with Hollywood to get movies online faster isn’t new. iTunes looks to stand out in a saturated market of online video streaming services. Apple’s spokeswoman declined to comment on Bloomberg’s report.
Currently, studios give exclusive rights to theaters for about 90 days before the film hits the digital and DVD markets. Bloomberg reports theater attendance is stagnant and home video rentals flat, which is why Hollywood is looking for new areas of growth.
Piracy is also an issue earlier on-demand rentals could help resolve, Warner Bros. chief Kevin Tsujihara expressed last week.
“One option is a premium-priced online rental for new movies, at prices of $25 to $50, a possibility under consideration at the studios, according to people with knowledge of the matter,” Bloomberg’s report says.
Creating a secure platform with proper encryption technology is said to be one of the main topics in negotiation. Read Bloomberg’s full report here.
