YouTube is launching a movie rental service in a partnership with Hollywood film giants including Sony and Warner Brothers, to rival Netflix and Apple's iTunes. The world's most popular short-form video website will expand into streaming big-name, full-length blockbusters in May, according to reports. Under the premium movie-on-demand service, film lovers will be able to stream new releases for as little as $2 (£1.20), though prices will differ for each movie. Three of the six major film studios – Sony Pictures Entertainment, Warner Brothers and Universal – have reportedly agreed licensing terms with the Google-owned video giant. Paramount, Fox and Disney have not yet committed to the plan, it is understood. The service is expected to be limited to the US for the foreseeable future.