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Amazon Adds Streaming Content With EPIX Deal

It boosts its Prime movie and TV offerings against rival Netflix


Visitors to Amazon‘s (NASDAQ:AMZN) website on Tuesday were greeted with a note from the company announcing a deal with the EPIX cable channel that will bring new movies and TV shows to its Amazon Prime streaming service.

Amazon’s gain is Netflix‘s (NASDAQ:NFLX) loss. EPIX recently ended its streaming deal with the DVD-by-mail and streaming company.

Amazon’s Long-Term Future Warrants a Near-Term Buy
Amazon’s Long-Term Future Warrants a Near-Term Buy

Shares of Amazon fell more than 1% in Tuesday afternoon trading, while Netflix shares dropped more than 6%.

The Internet retailing giant has been seeking deals with media content providers, including Time Warners’ (NYSE:TWX) Warner Brothers and Comcast’s (NASDAQ:CMCSA) NBC Universal, in recent months to increase its Prime offerings against Netflix’s catalog of streaming content.

That expansion has come at the expense of overall profits. Amazon reported second-quarter earnings that tumbled 96% due to higher expenses.

EPIX is a joint venture between Viacom (NASDAQ:VIAB), MGM and Lions Gate Entertainment (NYSE:LGF).

Article printed from InvestorPlace Media,

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