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Video website currently in negotiations with movie studios

YouTube wants to rent films

Google’s YouTube video sharing website is in talks with a number of Hollywood studios, including Lions Gate and Sony Pictures Entertainment to provide a streaming movie rental service.

According to Bloomberg, the website is hoping to add professionally created content in a bid to garner more traffic and advertisers. The is already carrying a number of clips from CNN, Cartoon Network and Adult Swim, which are all owned by Time Warner.

The talks are still in preliminary stages and as such most of the participants are remaining relatively tight lipped.

“We hope to expand on both our great relationships with movie studios and on the selection and types of videos we offer our community,” commented YouTube spokesman Chris Dale.

“We are always exploring alternatives for monetizing our content in a digital environment,” added Lions Gate spokesman Peter Wilkes.

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