You read the title correctly, yes. Beginning Friday, you can rent movies on YouTube. The Google-owned YouTube has partnered with the Sundance Film Festival to offer five independent movies for rental. In addition, Google is looking for other independent artists and companies to work with in order to bring you even more titles in upcoming weeks.

YouTube is also inviting a number of its partners to participate in the new rental service, allowing those it selects to keep their rights, decide where they want their content to be available, the price of their video and the rental duration. One day, YouTube will offer even more services where movies are concerned, even going so far as to bring movies to platforms other than the website, including Apple TV, Boxee, Wii and PS3.

Is this something that will potentially interest you? Would you pay a flat rate (or perhaps subscription fee?) to rent movies on YouTube? What types of films are you hoping to see there in the future?

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