Movies from major film studios are now available for both rental and purchase on the iTunes Store in Australia. Over 700 films from 20th Century Fox, The Walt Disney Studios, Paramount Pictures, Warner Bros., MGM, Sony Pictures Television International and Lionsgate are now available, and new release titles will be available for purchase on the same day as their DVD release.

Pricing in Australia starts at A$9.99 for catalog title purchases, A$17.99 for recent releases and A$24.99 for new releases. Rentals are priced at A$3.99 for library title rentals and A$5.99 for new releases, with high definition versions costing one dollar more.

“Movie fans in Australia and New Zealand can choose from a great selection of over 700 films for purchase and rent on the iTunes Store,” said Eddy Cue, Apple’s vice president of Internet Services. “iTunes provides an incredibly easy and fun way for people to discover and enjoy movies, and has quickly become the world’s most popular online movie store with customers renting and purchasing over 50,000 movies everyday.”

Tags: Apple, iTunes, movies