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Amazon Working on New Streaming Service

Category: General News
Posted: 03:53PM

Amazon is reported to be developing a new streaming service, separate from the current offering for Amazon Prime users. The service will offer original and licensed content as well as music videos. As part of the service Amazon also plans to include ad-supported videos, which could give the company revenues up to $1 billion, though this falls short of the $5.6 billion in ad revenue produced by YouTube. The company could use data collected about the shopping habits of consumers to create targeted ads. As an example, "it could sell Adidas shoes to Run-D.M.C.'s "My Adidas" music video fans." To further help the new streaming service, Amazon is holding a media event in New York City next week where the company is expected to announce a device similar to the Google Chromecast or Roku.

Source: Wall Street Journal

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