Amazon Launches $8.99/month Video Streaming Service

This week Amazon announced the launch of an $8.99/month streaming service designed to compete with Netflix, called Prime Video. The new monthly stand-alone service will include 3rd-party content from Amazon Prime as well as original Amazon shows, and allow users to download content for offline use. The $8.99 price point falls $1 below Netflix's standard $9.99/month plan, making it a serious competitor for the popular streaming video platform. According to industry analyst Mark Mahany, "Amazon certainly has the brand name, the customer relationships, and the focus on high-quality consumer experiences to impact the growth in Netflix's U.S. subscriber base, and perhaps eventually its global subscriber base," Read more on Amazon's new Prime Video offering, and what it means for competitors here.