Also included in the new Market app are Books and Movies, which were separate apps before. Both these services are currently limited to the US but will be made available to select other countries soon. You can rent movies starting from $1.99 and then stream them to your phone or download them for watching later.
The new Android Market will be available to device running Android 2.2 and later and will start rolling out to all the supported handsets in the coming weeks.
source: GSM Arena