Best Buy is set to venture into the online film and television market with the launch of its new CinemaNow service.
Best Buy is offering CinemaNow in partnership with technology vendor Sonic Solutions and it will be available first on devices from LG Electronics before becoming available for other devices in time.
Best Buy plans to start offering the services on devices sold in Best Buy stores across the world.
Company representatives have hinted that in the future the service may be moulded into a subscription based model similar to NetFlix.
Chris Homeister, senior vice president of entertainment in Best Buy said: “This service, coupled with us selling an increasing number of connected devices, drives a broader consideration for Best Buy.”
Industry experts believe that Best Buy is moving into the online content delivery market because of the progressive decline in DVD sales.
Best Buy recently opened its first store in the UK and is looking to further expand into the UK marketplace with the CinemaNow service.
The new service will bring Best Buy into direct competition with the likes of Apple and Amazon, who already offer similar services.