YouTube Release Online Video Rental Site

YouTube has today launched it's first ever online movie rental website in the US, after a successful initial trial period.

The Google-owned company is charging between $0.99 and $3.99 for its film releases and gives customers between 24 and 72 hours to view the videos bought from its store.

YouTube announced that during the 10 day trial run earlier in the year, the site earned a whopping $10, 709 with only five Sundance films on offer during the period.

Now YouTube has increased its offerings with a wide range of films available for hire to customers in the US.

Due to the quiet and relatively understated nature of the launch, many commentators fear that YouTube will not be able to compete with their new online competitors, Amazon and Netflix.

A YouTube spokesman stated earlier today: "When we announced YouTube Rentals in January we said we would be creating a destination after more partners joined the program. To date, we have nearly 500 partners that have joined our Rental program."

Although the trial period for the service went well, spectators shall have to wait and see whether this low-scale release of this new service shall create as much revenue as YouTube may be hoping for.

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