Amazon Adds Streaming Content With EPIX Deal

by Christopher Freeburn | September 4, 2012 1:12 pm

Visitors to Amazon‘s (NASDAQ:AMZN[1]) 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[2].

Amazon’s gain is Netflix‘s (NASDAQ:NFLX[3]) loss. EPIX recently ended its streaming deal with the DVD-by-mail and streaming company.

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[4], including Time Warners’ (NYSE:TWX[5]) Warner Brothers and Comcast’s (NASDAQ:CMCSA[6]) 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[7] that tumbled 96% due to higher expenses.

EPIX is a joint venture between Viacom (NASDAQ:VIAB[8]), MGM and Lions Gate Entertainment (NYSE:LGF[9]).

Source URL: http://investorplace.com/2012/09/amazon-adds-streaming-content-with-epix-deal/
Short URL: http://investorplace.com/?p=226064

---