Markets

Amazon (AMZN) to Create an Online TV Service

Rumor has it that the e-commerce giant, Amazon.com Inc.AMZN is planning to roll out its own live online TV service. However, the deliberations are still in preliminary stages.

Per reports, Amazon has approached a number of content owners in the past few months regarding licensing their channels. CBS Corp. CBS and Comcast Corp.'s CMCSA NBC Universal are the rumored partners for the service, which is expected to be similar to Dish Network Corp.'s DISH Sling TV or Sony Corp.'s PlayStation Vue.

The plan makes sense given Amazon's existing video offerings. Amazon already offers on-demand television programming via its Amazon Prime Video, which enables Prime subscription members to download or stream a number of shows and movies free of cost.

Also, Amazon has recently acquired Elemental Technologies, which offers back-end services for video content streaming over the Internet across a variety of devices and platforms. The acquisition could support a service to provide top channels without the need for a cable or satellite.

Amazon is already a player in the online media market with its Fire TV and Fire TV Stick. Also, it recently announced a ban on the sale of Apple TV and Chromecast on its site, which could have been in preparation of such a service.

But before that it has to surpass its competitors in the space including Dish Network's Sling TV, Hulu Plus, Noggin, CBS, and NBCUniversal, Sony, Comcast, AT&T, Verizon and others. Also, iPhone maker Apple is reportedly planning to come up with its live streaming TV service.

Amazon has a Zacks Rank #3 (Hold).

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AMAZON.COM INC (AMZN): Free Stock Analysis Report

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COMCAST CORP A (CMCSA): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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