Move over Netflix, Amazon is coming!

Posted by Lydia Leavitt

It seems as if Amazon may be gearing up to challenge Netflix by offering a premium online movie streaming platform loaded with a substantial amount of content.

The company, which sells and rents digital movies, currently dabbles as a content provider by providing access to a relatively small library of online movies.

Amping up its game plan, rumor has it that Amazon is targeting Hollywood studios and independent companies hoping to license more content and diversify its subscription-based movie streaming service.

A spokeswoman for Amazon has declined to comment.

Still, the above-mentioned rumor comes only days after TG Daily reported that Netflix is pressuring multiple companies to fold or redesign their business models to stay competitive.

Indeed, companies like Blockbuster and TV providers such as Hulu face major problems as Netflix ventures forth into the TV market.

Undeterred, Hollywood execs say that Amazon is still moving forward with plans to launch in late February, a date which was pushed back to give the company more time to seek content and iron out technical glitches.

Similar to the Netflix dilemma, TV and movie execs are wary about signing with Amazon for fear that it may affect DVD sales and future distribution deals with cable networks. Unfortunately for them, they seemed almost forced to comply with this new way of content consumption simply to stay competitive.

Amazon and Hulu are both targeting older movies that have already completed their runs on premium cable networks like Starz and HBO.

Amazon has yet to set an official launch date, but according to a screenshot released by Engadget, the website highlights "The Girl Who Kicked the Hornet’s Nest" as one of the streaming subscription movie options.
 
(Via LA Times and Engadget