TiVo Inc. announced its plans to offer subscribers the possibility of downloading Walt Disney Co. movies directly from their TV sets.

TiVo users will be able to rent the movies for a 24-hour period, which will be stored on the device’s broadband-connected DVR hard drive.

The decision to bring a new feature to its device was mainly related to the stiff competition that TiVo is facing from the cable and satellite company DVRs. In the past few months, TiVo’s subscriber base fell 3.7 % to 3.8 million, being its fifth-consecutive quarterly decline and also largest on a percentage basis.

The new deal between TiVo and the online service CinemaNow will offer for rent films from all of Disney’s studios and will be added to Amazon’s Unbox service that allows users to rent movies from all the major studios.

The price for renting a new released video for 24 hours will be of 4$ and for older films the price will be 3$.

The first version of the TiVo digital video device was released on March 31, 1999 and later in 2000 Philips Electronics introduced their DSR6000, which was the first DirecTV receiver with an integrated TiVo digital video recorder (DVR).

Company officials said that they are very excited to be working with Disney and CinemaNow and added that their efforts are focused on offering the best television entertainment experience and also on finding new ways to offer users unlimited content and control.