Death of Netflix? YouTube wants to upload blockbuster movies and TV shows

YouTube stream premium blockbuster movies and TV shows

YOUTUBE is believed to looking into the possibility of streaming TV show boxsets and blockbuster films – transforming the service into a direct competitor to Netflix and Amazon Prime Instant Video.

Google-owned streaming service YouTube is believed to be looking into expanding its business to on-demand video.

YouTube is expected to rival Netflix and Amazon Prime Instant Video by adding a slew of popular television shows and Hollywood films.

Executives from YouTube parent company Alphabet Inc. have met with a number of executives from studios and production companies, according to reports from the Wall Street Journal.

These meetings have revolved around licenses and pitches for new content, the US newspapers has claimed.

YouTube already offers Full HD rentals

It is thought these talks are still in the "early stages".

YouTube already offers UK customers the ability to rent HD movies, but the addition of more premium videos is expected to be included as part of its new YouTube Red subscription.

The $9.99-per-month subscription service launched in the United States back in October and includes ad-free access to YouTube as well as unlimited music streaming through Google Play Music.

At the moment, YouTube generates revenue through on-screen and pre-roll advertisements hosted on the website, which is free to access.

Meanwhile, Netflix and Amazon currently offer a slew of licensed UK and US television shows and movies.

Both on-demand video providers are increasingly investing in original programming as a way to stand out from the competition and lure more subscribers.

Amazon is developing a new motoring show with former Top Gear presenters Jeremy Clarkson, Richard Hammond and James May while Netflix is responsible for award-winning shows like Orange is the New Black, House of Cards and Narcos.