Today Amazon introduced its streaming-video service, a shot across the bow of Netflix. Amazon streaming video is free to Amazon Prime ($79 per year) subscribers, who get free standard shipping on most orders.
In a short test the service operated fine on my desktop PC. Amazon streaming video also works on Macs but as of this writing has no app for the iPad or iPhone like Netflix, so Amazon has some catching up to do.
Stock market indices are down 1-2% today because of Middle East and energy uncertainties, while Netflix is off 5% to $222. That shouldn't bother long-term Netflix shareholders, since their price has nearly tripled in one year. At these levels, despite its recent pullback, it's way too pricey for me.
But speaking as a consumer but not an investor in Netflix or Amazon, isn't competition wonderful?
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| Netflix shares have fallen more than Amazon's in the past week. |
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