There was a time that when you purchased something from iTunes, you got to download it once.
Apple basically said it was up to you to back it up, because if you deleted it and wanted to download it again, you had to pay again.
It changed when then the App Store came out, as you could download the same apps multiple times... Eventually Music and TV became available to download again as well. My "Purchased" section suddenly filled up with a bunch of songs I haven't listened to in years.
It is news that Movies are showing up, because (like the other stuff), they were NOT available to download again. At least, not on any friendly "Purchased" screen.
I guess I have to avoid Universal and Fox movies, but for other studios, they WILL be getting more money from me. I have a Blu-ray player, and would love to get more Digital movies tied to my account!!!