iTunes to offer HD movies and rentals

This week Apple announced it will offer high-definition movie sales and rentals via iTunes.

Recent box office titles, including "Quantum of Solace" and "Twilight," and be downloaded for $19.99 in HD; rentals are available 30 days after release for $4.99. The offering is Mac and PC compatible; widescreen and Apple TVs can also partake, but iPhone and iPod with video will continue to support only standard-definition versions.

Prior to this announcement, and after January 2008, Apple offered HD movie rentals exclusively via Apple TV. In September, support for HD TV shows was incorporated into iTunes.

To promote the new offering, a dedicated HD Movies page was added to the iTunes storefront.

Online video gross media spend is expected to grow 22.5% between 2008 and 2010. YouTube, which aspires to both monetize its offerings and compete with iTunes and Hulu in terms of providing premium content, continues to fuel audience traffic toward online video. In February it began testing a charge-to-download program that, if successful, may put it in iTunes' arena.