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It's transferable, but not necessarily by downloading again from Apple. You just back up your downloads and then you can transfer them from device to device.

Not that it makes any sense not to allow people to download stuff multiple times, especially when said stuff is DRM'd, but try reasoning with the movie studios.

It might get better in the future though. Music is now mostly DRM free and you can re-download directly from iTunes. That changed not that long ago. If the music industry can change there's hope for the movie industry as well.




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