Best Buy enters the online video download business

​ Netflix, Apple iTunes, and Amazon.com are all well-established companies in the "video on demand" world of the internet. Now you can count Best Buy in the running for video download domination.

Best Buy officials announced today that they are partnering with CinemaNow to create their own movie/TV show download service that can be accessed through some of their electronic devices that connect to the internet. The service has yet to be named, but is part of a a multi-year agreement with CinemaNow.

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The new service, which is yet to be named, will allow users to access content including new movies, TV shows, independent films, and older catalog titles on a variety of devices. Best Buy said new titles will often be available on the same day they become available on DVDs in retail stores.

A launch date for the new service has not been announced.