Working on for a transition, YouTube is in talks to launch VOD-style movie rentals on TVs and connected devices by the end of 2012. YouTube plans to be a full run TV network and become a favorite destination of users for movies.

Owned by Google, YouTube is a famous video service provider.

In an announcement made by YouTube hardware partner TPVision, the firm is in plans to add a premium component to its TV application on various Smart TV platforms.

Now with just connecting TVs to YouTube, users will get access to movie rentals easily.

TPVision said that the service of YouTube Rentals will be offered in selected European countries by the end of 2012. TPVision also said that “Philips Smart TV will be among the first TV platforms” to provide access to these rentals.

No comment has been made from YouTube as yet.

Earlier this summer, YouTube added rentals to its Google TV app, but VOD wasn’t available on any other TV platform before.

YouTube movie rentals service on Google TV is also limited to the users in the US. This move seems to be an initiative by YouTube to compete with other VOD services such as VUDU, Amazon Instant, or Blockbuster.

If YouTube goes this way, it could increase its ad-supported content, which already has feature-length movies and various professionally-produced shows.

Will this service get YouTube more users? Share your comments with us.