Youtube has entered into a new licensing agreement with Paramount Pictures to bring nearly 500 new movie titles to YouTube and Google Play over the next few weeks to people in the U.S. and Canada. YouTube said it would offer online rentals of nearly 500 Paramount films, including "Hugo" and "The Godfather," rounding out its growing catalog of movies.

Terms of the deal were not disclosed.

With the addition of Paramount, Youtube now has five of the six major studios and over ten independent movie studios offering nearly 9,000 movies for rent to people around the world.

Many of these movies are available today, and the rest will be added to YouTube and Google Play over the next few months.

Google and Viacom, the parent companies of Youtube and Paramount Pictures respectively, have sparred in court for years, with Viacom seeking to overturn its defeat in a awsuit in which the media conglomerate charged Google with "massive" copyright infringement.