If you use Android 2.2 on your phone than you can enjoy the new Android Market. See the video review here 🙂
In the U.S., you’ll be able to rent thousands of movies, starting at $1.99, right from Android Market on your phone. With the Videos app, available in Android Market, there’s no more waiting for downloads, syncing, or worrying about storage space. Simply sign into Android Market with your Google account, and you can rent movies from anywhere – the web, or your Android phone or tablet – and start watching instantly. You can also download movies to your device so they’re available for viewing when you don’t have an internet connection.
Also in the U.S., you can now purchase books from Android Market on your phone. Like movie rentals, books are linked to your Google account, so they’re instantly available across all of your devices – computer, phone, or tablet – without the need for wires or downloads.