While some media reactions to the Apple Keynote presentation were dissappointed because Steve Jobs had no new jesus-like gadgets to show, the effect on the online movie business could actually be tremendous.

Itunes now has a serious movie rental system. The big suprise is that every major film studio participates!

Movie rentals cost from 3-5$, but you only can watch the film for 24 hours from the point you start it. When the service will launch in february (USA only) it’ll have around 1000 movies. I think that’s not enough to really reach big user groups, we want all the full back catalogues, too! So it’s not the big breakthrough but having all studios onboard is the first important step to really get online movie rental going!

Apple also improved the AppleTV, now becoming a serious home entertainment device.

Read a full feature list of the new intunes and Apple Tv on Newteevee.