As part of iOS 5, iCloud officially launched this week. The service stores and backs up everything from movies and photos to contacts and documents to the cloud, making it easy for customers to push files from one device to another.
Apple isn't wasting any time trying to add new features to the recently released service. Both the L.A. Times and Wall Street Journal are reporting that Apple has already commenced negotiations with Hollywood studios to allow movies to be streamed to multiple devices via iCloud.
Apple has dabbled with this type of cloud streaming when it created a feature for users to stream TV shows to the Apple TV set-top.
Movie studios and other consumer electronics have created a potential competitor called Ultraviolet, which is a cloud video streaming service that allows for videos to be purchased on one device and streamed to countless others. Apple and Disney the only two major holdouts on adoption of the Ultraviolet consortium's format.