Amazon (NASDAQ: AMZN) and Warner Bros. on Friday jointly announced a licensing agreement to add TV shows such as Fringe and The West Wing to its Prime Instant Video catalog, making those shows available exclusively to subscribers.
“Bringing Fringe and The West Wing–two shows with a devoted fan base–to Prime Instant Video first, is another way for us to add value for Prime members and to continue to give customers content they love,” Brad Beale, Amazon’s director of digital video content acquisition said in a statement.
The Seattle-based company has been working to form a credible challenge to companies such as Netflix and Hulu by securing content deals. The company struck a similar deal with Metro-Goldwyn Mayer last month and signed a deal with Discovery Communications (NASDAQ: DISCA) in March.
Amazon’s Prime Instant Video Service is available on Amazon’s tablet, the Kindle Fire, as well as certain gaming consoles. The service costs $79 annually, while online streaming for rivals Netflix (NASDAQ: NFLX) and Hulu Plus both cost $7.99 monthly. The increase of content available through these websites pose a formidable challenge to cable and satelite providers, especially after woes such as the recent standoff between DirecTV (NASDAQ: DTV) and Viacom (NASDAQ: VIA).
Warner Bros. is a subsidiary of Time Warner (NYSE: TWX).
Shares of Amazon are up 0.94% to $228.30 in midday trading.
Samuel Weigley
Top Gaining Stocks
Top Losing Stocks