Recently, Google has been in talks with Hollywood studios in California to leverage YouTube’s massive web-based video platform into a world of allowing fresh movie and film releases to be streamed over the internet. According to several sources, Sony Pictures Entertainment and Lions Group Entertainment are both considering the possibility of establishing a streaming online movie rental service through YouTube. While the discussions have been realized at a very preliminary level, the service would essentially counter the likes of Amazon’s Video On Demand rentals, Apple’s iTunes movie rental service, and even Sony’s PlayStation Network movie rentals. However, the streaming content nature that YouTube currently possesses would be held in place rather than full movie downloads on a time-trial basis.

“We hope to expand on both our great relationships with movie studios and on the selection and types of videos we offer our community,” said Chris Dale, a YouTube spokesperson. In addition, The Wall Street Journal has claimed that Warner Bros. was also involved in the discussions.

“Google’s trying to find ways to better monetize this very good asset,” said Andy Miedler, an analyst with Edward Jones & Co. in St. Louis who recommends the shares and doesn’t own any. “As long as the economics make sense, I certainly applaud them for trying to increase the revenue stream.”

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