‘iTunes Replay’ To Bring Streaming iTunes Movie & TV Purchases To iPhone?

AppleInsider writes that Apple is in the process of creating an on-demand streaming video service for iTunes TV and movie purchases on personal devices. Rumor has it that iTunes 8 will add a new service called “iTunes Replay” that will remove the need for free storage space on the device by storing purchases on a server instead of on the device.

AppleInsider notes that a high-speed data connection would be required for steaming HD content, although Apple will likely provide iPhone-compatible standard definition versions for the service as they do for current HD content [iTunes Link].

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