Amazon.com Inc, the largest Internet retailer, will expand its digital music and video with a streaming video service in the next few weeks, Chief Executive Jeff Bezos said Wednesday.
Speaking at the Wall Street Journal's three-day D: All Things Digital conference in Sand Diego, Bezos said the online retailer will launch a paid streaming service in the next few weeks, according to Forbes.
A few different (business) models can be supported in digital music, Bezos said. He did not provide prices for the service, but possibly indicated a range. If people can skip a latte that day and have it for free, they will, he said. Electronic music and video, he said, is a very serious business for the company.
Bezos did not offer any further details on the new service which will directly compete with a similar option from Netflix, whose Watch Instantly feature is largely web-based and requires a regular Netflix subscription of $9 or more. The download feature will also compete with Apple Inc, which currently dominates the category with its popular iTunes music download service.
Amazon has been building a digital music store and now offers downloadable movies, television shows and videos on its Web site. The retailer has a deal with TiVo Inc, the maker of the popular digital video recorder, which allows users to rent videos from Amazon's Unbox service and watch them on their televisions.
On Wednesday, Amazon slashed the price of its Kindle, its electronic book reader, from $399 to $359. Bezos did not confirm how many units have been sold since the product was released last fall and said the price drop is only to reflect that the Kindle is readily available in stock.
There will be a second version, a third version, a 10th version and so on, he said, but a second version is not that near. It may take a decade to get the product where Amazon wants it, he said.
A newer model may include a Web browser that serves as a companion to reading, and international versions of the device.