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Monday, April 09, 2012
YouTube Announces Movie Rental Partnership with Paramount
YouTube recently announced a movie rental partnership with Paramount Pictures, despite the online video website's long-running litigation with Paramount's parent company Viacom. YouTube will offer online rentals of nearly 500 Paramount films. The two companies, whose parent companies have sparred in court for years, decided to put their differences aside for this licensing agreement.
Viacom is currently seeking to overturn its defeat in a landmark $1B lawsuit in which it charged YouTube and parent company Google with "massive" copyright infringement. In its 2007 suit against YouTube, Viacom alleged that many of its programs have been illegally uploaded on YouTube and that YouTube and Google executives knew about it, but did nothing to stop it.
The Paramount deal means that YouTube now has movie rental deals with five of the six major film studios, as well as more than ten independent film studios, adding to their growing catalog of nearly 9,000 feature-length movies.
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