Fortune magazine is reporting that online video website YouTube which is owned by Google has inked a deal with major Hollywood Studio, MGM - the home of movies such as James Bond - that will allow the site show full-length movies for a share of advertising Revenue.
However, the venture will not be showing MGM's block bust film's like James Bond at first. Instead, the venture will see lesser known and tougher to sell films shown online as a way to increase revenue derived from these lesser known titles.
Already a hot bed for independent rap music videos, the first MGM movie to go up on YouTube will be a Chuck Norris vehicle, "Bulletproof Monk," starring Chow Yun-Fat and Lone Wolf McQuade.
YouTube expects to reach similar agreements soon with other movie studios. He points out that the site already has content-sharing partnerships with television networks like CBS (CBS, Fortune 500), BBC Worldwide, Fox, Showtime and HBO.