Apple is supposedly about to launch a new media streaming service as part of iTunes 8 that would allow users to stream their purchased videos "directly from the company's servers for playback anywhere, anytime without eating up local storage." The service is being referred to as iTunes Replay and would support both movie and TV show purchases.
It's unclear when Apple plans to release iTunes Replay - if at all - and whether it plans to charge additionally for the service. It also remains to be seen whether or not devices like Apple TV or the iPhone/iPod touch will support the new feature, which would not only allow the user to just stream content on-demand wherever they are but also help them deal with the limited storage capacity in these devices.