In move to take on Netflix, online retail giant Amazon is expected to launch a streaming service this month.
The LA Times is reporting that Amazon is in negotiations with the six major Hollywood studios to acquire content for a subscription service. Such a move would be the first major rival to Netflix, which as almost 8 million subscribers.
The studios have not signed on yet, as they assess how such a service will affect revenues, including DVD sales. Currently, Netflix pays the studios significant dollars for the rights to offer their content. It’s unclear how much Amazon is willing to ante up for the same rights.
Alex has written for Vanity Fair, Barrons, Bloomberg and Condé Nast Traveler.