Amazon Bolsters Video Library by 15 Percent in Deal with Viacom

Amazon (NASDAQ:AMZN) announced Wednesday that it will expand the selection on its streaming service catalog through a new rights agreement with Viacom (NASDAQ:VIA). Included in the deal are Paramount movies, as well as shows from Comedy Central, MTV, VH1, Comedy Central and Nickelodeon, to name a few.

The new deal will add roughly 2,000 titles (approximately at 15% increase) to Amazon’s Instant Video service and make them a larger competitor in the on-demand streaming content service industry. The deal doesn’t give Amazon exclusive rights to the content, as many of the titles are already available on other services such as Netflix (NASDAQ:NFLX) and Hulu.

Amazon is betting that the increase in their library will, in part, help bolster sales of their Kindle Fire line of computer tablets. Subscribers to Amazon’s Prime service will now be able to watch popular shows such as MTV’s “Jersey Shore,” TV Land’s “Hot in Cleveland,” and kids shows like “Dora the Explorer,” amongst others, on Wednesday. Amazon currently sells their Kindle Fire at a loss, but makes up for it on sales for products and content for the Fire.

Amazon has also recently inked deals with others, including News Corp.’s Fox and Warner Bros. to add more films and shows to its offerings and compete in the crowded industry. “You either have to build the device that everyone wants or have a price point that excites people and an ecosystem that goes around that,” commented Kerry Rice, an analyst with Needham & Co. in San Francisco, who recommends holding Amazon shares. It seems apparent that “the device that everyone wants” comment by Rice is a reference to the Apple iPad, which is significantly higher priced than all competitors, but selling off the shelves for Apple, Inc. (NASDAQ:AAPL) as the top selling tablet on the market.

In a broader scope, the deal puts additional pressure on Netflix, especially with the recent deal struck between Verizon (NYSE:VZ) and Coinstar (NASDAQ:CSTR), parent company of video kiosk giant Redbox, to launch initiatives of their own to expand their presence in the on demand space.

Amazon (AMZN) Stock Quote and News:

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