Best Buy Canada, owners of the Futureshop and Best Buy Canada retail chains, today announced the Canadian launch of CinemaNow, an internet video download service.

The service, which hopes to compete with similar services from Sony and Apple, gives movie lovers the ability to rent or buy more than 10,000 standard and high definition movie and television shows over the web.

Movies can be viewed on a Windows or Mac computer, streamed through an Xbox 360 or a CinemaNow ready Blu-Ray player, TV or set-top box. Movie prices are pretty much in line with what you'd expect to pay with the Apple or Sony services - $5 for a new release standard definition rental and $20 to buy. TV shows are $2.49 per episode.

Contrary to what has been reported by a number of Canadian media outlets, CinemaNow is not a Netflix type service. Under the Netflix service, users can stream an unlimited amount of television shows and movies to their HDTV or Netflix enabled device for $8 a month. The CinemaNow service is an online video store that enables consumers to rent a movie for 48 hours or buy it outright.

Discuss the CinemaNow service in Digital Home`s Internet Television forum .