CinemaNow, an internet video download service owned by Best Buy, has announced it will begin offering service in Canada sometime in August.

The service which gives movies lovers the ability to rent or buy standard and high definition movies over the web will compete with similar services from Sony and Apple.

CinemaNow claims it will have a library of more than 10,000 movie titles from Sony Pictures and Fox Entertainment by launch date. The U.S. Cinema Now site says it currently has "over 1,500 titles at your fingertips." Best Buy says it's working with other major studios in order to expand its library.

At launch time, the service will only be available on computers. Best Buy says it expects to have the service available on other devices in the fall. In the U.S., the service is now available on a number of LG and Samsung HDTV`s and a number of Blu-ray players from Panasonic, LG' Samsung and Insignia.

The company did not announced movie pricing, however, it’s expected that prices will be pretty much in line with the prices charged by Apple and Sony. For example, Apple charges $5 to rent a new release standard definition, $6 to rent a new release high definition movie, $17 to buy a new standard definition release and $20 to buy a new release high definition movie. Prices for older films are generally less.

Contrary to what has been reported by a number of 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 .