Apple TV (1st generation) - Manual (Page 26)

26 Chapter 3 Ready, set, watch.
Renting Movies
You can rent standard definition movies with stereo sound or high definition movies
with Dolby Digital 5.1 surround sound directly from Apple TV. When you rent a movie,
you have 30 days to start watching it. Once you press Play, you have 24 hours to finish
watching before it expires.
The Rented Movies menu shows when your rented movie is due to expire. When a
movie expires, it’s deleted to save storage space on Apple TV.
Note: Rented movies are not available in all regions.