Image from Cult of Mac
Some sources at major film studios are saying that Apple has plans for "digital shelves" that will let users store movies "and other media" on Apple servers, according to reports. Late last year Apple picked up streaming music service Lala. Everyone's first thought was that Apple was planning a new iTunes music service that would allow users to listen to their iTunes collection over the cloud, but that hasn't happened yet.
Lala was shut down on May 31st, 2010, and currently no one knows for sure what Apple plans to do with the technology. However, CNET today found out that Apple is currently telling music executives at the top four labels that even if the company did launch a cloud-based music service that it would probably be "modest in scope" and that it wouldn't include any features such as storing music on Apple servers. In short, Apple probably isn't planning anything major if at all for music in the near future.
Engadget points out that movie storage makes sense given the recent rumors of a new iOS-based Apple TV and Apple iDevices, in which they say "it's not like Apple's showing too much concern with storage limits." For example, the iPhone 4 comes in 16GB and 32GB models, the same as the 3GS, while the rumored Apple TV revamp is said to start at 16GB of storage, definitely small when considering that many may use it for HD video.