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Amazon Prime Instant Video gets boost with Epix deal
Tuesday, September 04, 2012
Amazon increased competition with Netflix in the online instant video arena after reaching a deal with Epix, a pay-television channel, in order to make thousands of films available through the Amazon Prime Instant Video service.
The agreement will allow customers who purchase a Prime subscription to stream an even larger library of videos via the internet. Amazon is looking to utilize its Kindle Fire tablet by doubling the amount of movie titles available since its debut more than a year ago.
“The goal for Amazon with tablets is to keep people in their ecosystem, and that’s what they’ve done by adding more content,” said Edward Williams, an analyst at BMO Capital Markets in New York, in an interview. “It removes some of the uniqueness of the Netflix content and makes the Amazon offering more competitive.”
Amazon said the new partnership will increase its title total to more than 25,000, up from the 22,000 the company reported last week before the announcement.
Netflix stocks plummeted 11 percent the morning of September 4 after the announcement was made. The company, which provides service to more than 27 million members, charges $7.99 a month for streaming videos.
Those interested in investing in either Amazon or Netflix may benefit from using online stock trading tools to make informed decisions within the market.
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