Facebook (FB), GoPro (GPRO) and Groupon (GRPN) shoot higher on Q2 earnings beat. READ MORE

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, http://investorplace.com/2012/09/amazon-adds-streaming-content-with-epix-deal/.

©2016 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.