Film addicts will be able to download movies to own for the first time next month, starting with King Kong.
The new service will allow fans to watch the latest Hollywood blockbusters on their laptops, home computers or hand-held devices while on the move.
It is hoped it will revolutionise the home movie market the same way video rental did 20 years ago.
The new download-to-own service is being offered by Universal Pictures and online DVD rental firm LoveFilm.
Currently films can be legally downloaded for a short rental period, but DTO is the first legitimate way to own them permanently.
Fans will pay between £19.99 and £9.99 for a DVD of their chosen film - sent through the post - plus two digital copies to keep indefinitely, one for their home computer and one for a portable device.
Security measures will prevent users from burning copies to DVD and the files will be compatible only with PCs and Windows software.
King Kong is the first film available on the service from April 10.
After that users can buy 35 movies including Pride And Prejudice, The Bourne Supremacy, Love Actually, Nanny McPhee and Bridget Jones.
Eventually all 6,500 movies in the company's back catalogue could be made available.
It is hoped other movie studios will open up their libraries.
Eddie Cunningham, chairman of Universal Pictures UK, said: "Consumers are becoming more demanding. They want quality products and more accessibility."
He added: "This service offers instant access and flexibility for consumers to watch films wherever they like."
