Amazon steps into Netflix space with stream plan

Amazon.com said Tuesday morning that it has launched a video-streaming media plan for subscribers to its Prime service - in direct competition with Netflix Inc. "Competition is good for consumers and the studios, bad for Netflix," said Michael Pachter of Wedbush Morgan, who carries a sell rating on Netflix shares. Amazon said it will allow subscribers to its Prime service the ability to stream unlimited, commercial-free movies and TV shows. The company said more than 5,000 titles are available through the service. Prime customers pay $79 a year for access to free, two-day shipping on most orders from the online retail giant. The video streaming service will be available free of additional charge to these subscribers, Amazon said.

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