Amazon Ramps Up Challenge to Netflix in Online Streaming Space Bloomberg
Amazon.com has signed a deal that increases its footprint significantly in online video -- ramping up the competition between Amazon and segment leader Netflix. Bloomberg reports that the pay-television network Epix signed a deal with Amazon bringing key film titles such as “The Hunger Games” to Amazon’s Prime Instant Video service.
The three-year agreement will boost the number of titles on Amazon's Prime subscription service to 25,000. Since the company introduced the Kindle Fire a year ago, its titles have more than doubled, the story points out.
Netflix shares closed down Tuesday after news of the deal, falling 6.4% -- the biggest decline since July 25, bringing the decline for the year to 19%, the report notes.
Amazon.com is expected to introduce a new version of the Kindle Fire this week.