Giant electronic retailers Best Buy Co Inc on Tuesday unveiled plans to partner with Sonic Solutions’ Roxio CinemaNow Service that would allow the company to offer consumers movies that they can buy, rent, and download in the their computers.
In a statement, the retail giant said that it would soon offer its loyal consumers latest movies that can be downloaded through its online store. Aside from films, consumers can also view and download their favorite televisions.
According to company officials, the new system is based on Sonic’s CinemaNow technology that allows users to download which ever movie they like within their home or handheld devices.
The new feature will be retrofitted into consumers’ devices sold at the Best Buy stores including TV, computers, portable media players, mobile phones, and e-readers that are capable of movie files.
Under the said agreement, Best Buy will be able to use the technology for several years, which was not disclosed by the company. Best Buy would also be allowed to acquire warrants that would give it the power to by shares from Sonic Solutions common stocks.
Best Buy said that consumers should watch out for the launching of the new service, adding that it will offer different kinds of movies from the latest to the classic. Independent and hard-to-find movies will also be available as soon as DVD copies also go on sale.
With the launch of the new movie download service, Best Buy is set to take charge of the market that was dominated by Amazon and iTunes Store.
Best Buy chief executive officer Brian Dunn said that the relationship with Sonic Solutions will allow the company to immediately take a strong position in the digital market, particularly in the delivery of movie entertainment to the online users and hardcore movie fans.
It will be recalled that Best Buy has bought online music giant Napster Inc about a year ago in a bid to dislodge iTunes store from its dominant position.
Best Buy said that it is slowly making progress as it pushes for further innovation in its online market place.