The hype around digital film distribution is now at fever pitch, with promises of a brave new world of instant delivery, unfettered consumer choice and new revenue streams for film-makers. Surveying the current array of commercial online video-on-demand (VOD) services, this article offers some critical reflections on these emerging circulatory models. The focus is on power relations within the online VOD industry and on issues of audience access and equity. The article argues that distribution should be a key concern for contemporary film researchers, given the power of distributors to determine the range of films available to viewers and the conditions under which they are accessible. While the 'democratizing' potential of online distribution may be appealing, it is important to recognize that digital delivery infrastructures may not result in any real diversification of film culture, that much of the Australian audience will be excluded from their reach and that the vast majority of online film consumption will continue to take place in the extralegal realm.