The rental titles will become available on iTunes 30 days after DVD release. Customers will have up to 30 days to start watching the film, and once a movie has been started, customers have 24 hours to either finish it, or watch it multiple times.
Additionally, the rental service goes hand in hand with a revamped version of the Apple TV also announced today. The original device was designed to allow customers to move video off the Internet from their PCs to their TVs, but the new Apple TV will not require a connection to a computer and will allow customers to rent movies and buy music directly from iTunes. The new device will sell for $229.