Amazon is Doubling Down on Amazon Video




Amazon PrimeAmazon has long been stuck in second place behind Netflix in the race for US streaming dominance. Now Amazon seems to think there could be an opening after a disappointing quarterly report from Netflix.

Amazon CFO Brian Olsavsky said that Amazon will “nearly double” its investment in all types of video, while “tripling” the amount of Amazon’s original content over the rest of the year. “We’re very happy with the customer adoption of Prime Video…it’s clearly working,” Olsavsky said.

Although Netflix has not released additional details on how it plans to nearly double its investment, many are expecting a major push to take content from both Netflix and Hulu on top of making more original content. This is no small investment as in 2014 Amazon spent over $1.3 billion on video content.

Streaming video has been a growing sector for Amazon as Amazon Video recently jumped both iTunes and Redbox to be the #1 US movie rental service. Amazon has also come out with a standalone streaming subscription service at a less expensive rate than their standard Amazon Prime subscription.

No matter how this works out for Amazon this is a boon for cord cutters as Amazon, Hulu, Netflix, and others fight it out for content and cord cutters get more and better options.

Source: CNBC

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