Netflix CEO: Amazon's Losing Upwards Of A Billion Dollars On Streaming

These days, tech-savvy folks may be more inclined to stream a movie than going out for a Redbox rental. Your options are pretty plentiful, actually. There's Netflix, VUDU, Amazon, Hulu -- and that's just naming a few. Recently, Amazon has gone into the business of rivaling Netflix, but they're giving away tons of it for free to Amazon Prime members. Now, according to Netflix CEO Reed Hasting, Amazon is losing between $500 million and $1 billion per year in streaming. His guesses have some pretty good factual backing. He's basing the figures on the value of content deals that Amazon scored when his company went head-to-head in bidding.

Netflix itself spends over $2 billion per year on content, but it's unclear how much Amazon is spending. Will it pan out in the end? Hard to say, but there's no question that having access to that content makes the Amazon ecosystem that much more attractive on the Kindle front.
Tags:  Amazon, video, Netflix