Oh, the power of YouTube.

We all know, watch, and laugh at videos on YouTube.  From the hilarious thirty-second home videos people share to the minutes long music videos and professional filmed broadcasts.  We all can agree, YouTube is America’s Funniest Home Videos of the Internet.  Now YouTube is coming from a whole new direction: movie rentals.  YouTube plans to sell five full-length independent movies drawn from the 2010 and 2009 Sundance Film Festivals in February 2010.  These five films include the award winning, “The Cove,” “Children of Invention,” as well as “Bass Ackwards,” “Homewrecker,” and “One Too Many Mornings.”

While movie rental competitors include Blockbuster, RedBox, and iTunes, YouTube is offering the bargain price of $3.99 for 24-48 hours per video rental. This small fee will be split between YouTube and the content provider. The viewer must use Google Checkout services to legally pay for the film and have it for the complete rental period.  This is all part of Youtube’s “Filmmakers Wanted” campaign which helps to attract more film makers from Sundance but to also broaden their client spectrum of the entertainment industry to having health and education sectors come on board soon.

The minimal selection of five movies may not be enough to grab your attention quite yet, but YouTube hopes to accomplish the idea of going global within the year; providing a plethora of movies to choose from in the comfort of your own home and on your lap.