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It looks like Best Buy is getting into the business of offering movies for download. This could step up competition with the likes of iTunes and Amazon, and even Netflix really.

The concept is a product of Best Buy partnering with CinemaNow, the same company that Blockbuster has dealt with to offer movies through set-top devices. According to Variety:

Details on how exactly Best Buy would benefit from a potential partnership with CinemaNow, and others, are still being finalized. But one possibility is that Best Buy would market and sell Web-enabled devices -- from TVs to Blu-ray players -- that would include built-in access to CinemaNow's library. Such devices may roll out as soon as this summer. Best Buy would presumably share in the revenues generated from downloads or streaming with CinemaNow or another provider.

This could get interesting, considering Best Buy has recently launched its Remix program, which includes both an affiliate program and an API. What this really means is that Best Buy will be getting more traffic. Best Buy is already largely benefiting from the void left by Circuit City, as Hitwise recently pointed out.

The Best Buy/CinemaNow service is said to be going into effect in the second half of the year. Meanwhile, Google will have its own set-top devices in the works. The video industry is going to get really interesting over the next year or so.