Exciting news for all, especially YouTube addicts. YouTube will offer full-length Hollywood movies within the next 30 days, reports CNET. This brave step is obviously to compete with Hulu, a site offering longer length videos. Hulu has offered high-quality long-form video streaming thus far.

YouTube has a larger audience base as compared to Hulu's. However, Hulu has entered into a joint venture with NBC Universal and News Corps for videos, which resulted in revenue generation similar to that of YouTube in the first year of business, per reports.

In the recent past, YouTube had upgraded the file upload limit to 1 GB, and yet we didn't realize that full-length movies were on their way. A lot of details are yet unknown, such as Hollywood studio deals, and most importantly, how is YouTube going to monetize when offering full-length flicks? According to two studio sources, YouTube owner Google wishes to utilize a particular form of advertising to generate revenue (from preroll, postroll, or overlays).

Many movie addicts know that a couple of underground websites exist that offer full-length movies online, but in parts. YouTube has tried to tap a potential market of viewers of full-length movies with this offering. However, purchasing movies from studios will drill some holes in Google's pocket.

Hopefully, they may not encounter sneaky pranksters involved in uploading movies without copyrights. YouTube has learnt a good lesson from the Viacom suit. Google already has the content ID tool in place for the identification of videos meant for copyright owners and for easy identification of their content.

Stay glued, until we bring more details about this possible YouTube deal.