They've sold 4 Billion songs, 125 million TV shows, and 7 million movies. However, that 7 million mark is lower than they'd prefer. So today, Jobs has announced iTunes Movies Rentals.
On board - every major movie studio! Steve presented them with a "and by the way." They will launch with 1000 films by the end of February. They will be on iTunes 30 days after their DVD release. You can watch on iPhone.