Netflix Stock Battered After Amazon Epix Deal

September 5, 2012

The streaming wars are heating up, with Amazon inking a multi-year licensing deal with cable channel Epix.

The deal went down after Netflix's exclusive relationship with Epix expired. Now Amazon will stream "The Hunger Games," "Iron Man 2" and a host of other popular titles from Paramount Pictures, MGM and Lionsgate to their online viewers.

Investors reacted to the news, pushing Netflix's stock down as low as $54.36 during the first hour of trading -- almost a 10 percent decline. The stock closed at $54.96, down 8.2 percent.

Amazon has doubled its library to more than 25,000 titles in less than a year, said Bill Carr, vice president of video and music at Amazon. Even with this win under its belt, Amazon's library size can't quite compare with Netflix's 50,000 titles or Hulu's 58,400 videos.

Still, Amazon's been moving aggressively into the streaming space. On top of Epix, it has inked partnerships with Warner Bros and MGM. Its user base also numbers somewhere in the "millions" (a spokeswoman didn't specify) who have access to Prime Instant Video as an addendum to their two-day shipping subscription.

Expect more content and technology companies to collide as more movies, TV shows and events move online.

Posted in Online Video News

Tags amazon, netflix, online video

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