Amazon (AMZN) Looks to Mimic Netflix (NFLX) in Different Arena
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Amazon.com (Nasdaq: AMZN) may not take down Netflix (Nasdaq: NFLX) in the streaming film and TV segment (yet?), but it's looking to mimic the service in another format: literature.
According to reports Monday morning, Amazon is said to seek the launch of a "Netflix-like" service for digital books, where users could pay a fee to access its library of content. Amazon is currently in talks with publishers, sources have said, and financial details have yet to be worked out.
The WSJ notes that publishers are not overly happy with the idea, because they think it will lower the value of books and add strain on relationships with retailers that currently sell books, like Barnes & Noble (NYSE: BKS).
Amazon has been said to offer older titles for members of its Amazon Prime service. Further, Amazon could put a limit on how many books Prime members would be able to read for free every month.
Shares are down about 1.4 percent Monday morning.
According to reports Monday morning, Amazon is said to seek the launch of a "Netflix-like" service for digital books, where users could pay a fee to access its library of content. Amazon is currently in talks with publishers, sources have said, and financial details have yet to be worked out.
The WSJ notes that publishers are not overly happy with the idea, because they think it will lower the value of books and add strain on relationships with retailers that currently sell books, like Barnes & Noble (NYSE: BKS).
Amazon has been said to offer older titles for members of its Amazon Prime service. Further, Amazon could put a limit on how many books Prime members would be able to read for free every month.
Shares are down about 1.4 percent Monday morning.
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