What’s a billion-dollar lawsuit between friends?

Paramount Pictures and YouTube have agreed to a 500-film distribution deal, despite a $1.76 billion lawsuit both media giants have been involved in since 2006 over piracy on the site.

Now award-winning films like Hugo and The Godfather can be streamed instantly on the site for $2 to $4 per viewing, reported the Los Angeles Times blog.

"Paramount Pictures is one of the biggest movies studios on the planet," said Malik Ducard, director of content partnerships at YouTube, in a statement. "We're thrilled to bring nearly 500 of their films to movie fans in the U.S. and Canada on YouTube and Google Play."

Paramount is now the “fifth major Hollywood studio to join YouTube's online video store,” reported the Wall Street Journal. 20th Century Fox is the only major studio not involved.

On Twitter people called the Paramount deal a “#gamechanger” and “a big step forward” for the seven-year-old video sharing service. With movie rental juggernaut Netflix having scaled back its library of films and people looking for a cheaper cable alternative, YouTube has made itself a serious media distributor.

Photo by thms.nl