Amazon Talking to Studios about Online Movie and TV service

Amazon has initiated talks with media firms to put up an online video subscription service

Seattle-based online retailer Amazon has initiated talks with media firms including Time Warner to put up an online video subscription service similar to that of Netflix, Inc., according to sources with knowledge of the talks.

The planned monthly service would allow subscribers  to view old films and TV shows.

Viacom Inc. and NBC Universal have also been contacted, the sources said. Amazon.com chief executive officer Jeff Bezos plans to expand the company's digital entertainment services to match rivals like Netflix, Apple, and Hulu, in distributing music, film, and TV shows. Apple utilizes its iTunes online bazaar for its distribution service.

Amazon's service would structure content deals patterned after that of Netflix, which buys rights for TV shows and movies for web streaming, according to the same anonymous sources.

Time Warner spokesman Keith Cocozza, NBC spokeswoman Rebecca Marks, and Viacom spokeswoman Kelly McAndrew all declined to give any comments.

Amazon's service would be available via web browsers and Internet-linked TV sets, Blu-ray players, and Microsoft's Xbox 360 game console, according to the Wall Street Journal.

The retailer sells movie and TV show downloads and rents movies through its website and on Roku, Sony, and TiVo devices. Warner Brothers is the largest non-network producer of broadcast TV shows.

Cupertino, California-based Apple is set to unveil a new set-top box which includes content from Netflix.

Amazon shares were up $1.04 to $124.83 today on the Nasdaq Stock Market. This year, the shares have  slid 7.2 percent.

Posted by James Fried on Wednesday September 01 2010, 8:52 AM EST. All trademarks acknowledged. Filed under Featured News. Comments and Trackbacks closed. Follow responses: RSS 2.0