Netflix (NFLX) Shares Trade Lower as Huge Rival Inks New Streaming-Content Deal
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Netflix (Nasdaq: NFLX) is suffering another blow Tuesday, sending shares lower early.
According to a release from the company, Amazon.com (Nasdaq: AMZN) inked a content deal with Metro-Goldwyn-Mayer Studios, Inc.
Following the deal, Amazon boasted that its Prime Instant Video catalog now has over 18,000 films and television shows available for instant streaming. Of course, that number is debatable. The real count might be something close to 2,000 movies and 150 to 160 different TV shows, not episodes.
By the same count, Netflix claims over 60,000 TV shows and movies, but some analysts see the number as closer to 9,500 (according to the FastCompany link up there).
Either way, content is content, and Netflix is down about a percent at the start Wednesday.
On the other side of the trade for Netflix, the U.S. is probing cable companies limits for internet video.
According to a release from the company, Amazon.com (Nasdaq: AMZN) inked a content deal with Metro-Goldwyn-Mayer Studios, Inc.
Following the deal, Amazon boasted that its Prime Instant Video catalog now has over 18,000 films and television shows available for instant streaming. Of course, that number is debatable. The real count might be something close to 2,000 movies and 150 to 160 different TV shows, not episodes.
By the same count, Netflix claims over 60,000 TV shows and movies, but some analysts see the number as closer to 9,500 (according to the FastCompany link up there).
Either way, content is content, and Netflix is down about a percent at the start Wednesday.
On the other side of the trade for Netflix, the U.S. is probing cable companies limits for internet video.
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