Amazon going head to head with Netflix as it invests $1.3 billion in its online streaming service Prime Instant Video

The news came as Amazon revealed strong Christmas sales

Oscar Williams-Grut
Friday 30 January 2015 11:14 GMT
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Amy Landecker, left, and Jeffrey Tambor appear in a scene from Transparent, one of the programmes available on Amazon's Prime Instant Video
Amy Landecker, left, and Jeffrey Tambor appear in a scene from Transparent, one of the programmes available on Amazon's Prime Instant Video

Amazon is going up against Netflix and betting big on streaming.

Amazon founder Jeff Bezos has revealed that the company last year spent $1.3 billion on its online streaming service Prime Instant Video, investing in programmes such as Mozart in the Jungle and Golden Globe-winning Transparent. Amazon revealed recently that it has also signed up Woody Allen to direct an exclusive series for Prime Instant Video, the director’s first effort in the TV format.

The news came as Amazon revealed strong Christmas sales, with a 15 per cent rise in revenue to $29.6 billion during the three months to the end of the year. Amazon said 5.5 million products were sold in the UK on Black Friday, an average of 64 items per second. Popular items included theKindle Fire HDX and the Dolce Gusto Mini Me Coffee Capsule Machine.

Amazon shares jumped 12 per cent in afterhours trading.

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