Yesterday Apple launched iOS 5 and its new cloud service iCloud, which will come with iTunes Match, when it launches later this month that will let you store your music collection in the cloud, iTunes Match will cost $24.99 a year when it launches.
We have heard rumors in the past that Apple has been in discussions with the major Hollywood movie studios about bringing movies to iCloud, and according to recent reports, Apple may be close to a deal to bring movies to iCloud.
With the launch of iCloud, you can now download previously purchased music and apps direct to your iOS device, and if Apple signs a deal with the Hollywood studios then movies will probably be available in the same way.
Source Mac Rumors
