The headline pretty much says it all here: Universal Pictures is making its video-on-demand library, called PictureBox, available to Virgin Media's 3.6 million-odd customers. PictureBox will be made available to Virgin Media TV customers from next month; offering "a large library of recent and library feature films."
For £5 a month, on top of Virgin Media's subscription costs, PictureBox signees will be able to access a selection of 28 Universal films at any one time, with seven new titles to be added every Friday. Universal promises "most" will come in HD, although inevitably some older movies won't be available as such. Although PictureBox is available on other platforms in the UK - such as BT Vision - the deal with Virgin Media will Universal Pictures' first enabling access to HD films.
Apparently a large number of titles available through PictureBox "will not yet have been seen on free-to-air TV in the UK," so you can sit content that you're paid-for access isn't for naught. According to Universal, "highlights" in forthcoming months will include Hot Fuzz (yep), The Bourne Ultimatum (double yep) and The Holiday (ye… no, just no.) alongside classics such as Total Recall and ET.
Clearly the relative value of PictureBox will depend on how many films you want to watch; and whether those are in Universal Pictures' archive. £5 a month isn't too expensive, I suppose, considering the price of renting a decent number of films, should you be tempted.