A revolutionary new way of renting video films is being developed. The system, developed by a US entrepreneur called Will Graven, has the backing of Hitachi, Samsung, Goldstar and Daewoo.
The four companies intend to take a stake in the company set up by Graven, EMC3, and will build new video recorders able to use the new system.
A customer will be able to rent a film from a list of about 2,000 through a personal keypad. Using either satellite or cable the order will be relayed to a processing centre, which will down-load the film to a special receiver in the video recorder; the process should last five minutes.
The global project is expected to begin operating in North America late next year before moving to Europe and Japan.
The success of the project will depend on persuading customer’s to buy the new type of VCRs, which will cost about £150 more than a conventional set.
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