On Tuesday Disney released a new app, Disney Movies Anywhere (free), that lets you stream or download your movies from Disney, Pixar, and Marvell, as well as browse and purchase additional movies. Plus, just for creating an account, the app offers a free movie, Pixar's The Incredibles (regularly $19.95). The app also offers free exclusive Disney content, including original programming and never-before-seen videos. The idea behind the app is that it lets you keep your movies from these studios all in one place as well as buy new movies. This includes viewing movies that you purchased from the iTunes Store. You can watch your movies via streaming or download them and watch offline. Each purchase carries with it Disney Movie Rewards points.
Interestingly, this is the first time that it's been possible to purchase movies without going through the iTunes Store. For more information, see the Disney Movies Anywhere website.
According to a helpful post on AppleInsider, you create a Disney account when you first launch the application. Then it prompts you to log into your iTunes account so that you can access your already-purchased Disney and Marvell movies from within the app.
The app offers a library of hundreds of movies. Also, if you've purchased a movie on disk, you can access the digital copy via the app.