Major hollywood studios including Warner, Universal Pictures, Sony, Paramount, and MGM have teamed up to create an online movie download service called Movielink.

The films available on Movielink can be stored indefinitely on a computer hard drive or transferred to as many as two other computers. The movies can be played on a TV if the computer is part of a home network.

Downloaded Movies can be burned to a DVD as a backup. Discs can be played on up three PCs authorized by Movielink but downloaded movie files can't be burned onto a disc for viewing on a DVD player.

New hollywood releases are expected to be available for download online the same day they become available on DVD. The video download speed will depend on the consumer's connection. Regarding cost, new films will be priced similar to DVDs -- between $20 and $30 -- while older titles will sell for $10 to $20.

CNN: Hollywood to sell movies online