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In This Corner, Netflix. In the Other Corner…Amazon?

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The hunter becomes the hunted — it’s a plot twist that has been repeated in countless movies.

So it’s only fitting that Netflix (NFLX), whose DVD-by-mail service and no-late-fee policy helped hasten the demise of several video rental chains, may soon find itself in a similar predicament.

Amazon (AMZN), the world’s largest online retailer, appears to be on the verge of augmenting its video-on-demand service with an unlimited movie and TV show streaming service that would compete directly with Netflix.

Amazon last weekend temporarily offered an option on its website that gave Amazon Prime customers unlimited streaming of about 5,000 movies and TV shows, DailyFinance sister site Engadget reported. Amazon Prime membership, which already includes a variety free, fast shipping deals on purchases made by members, costs $79 a year — less than Netflix’s unlimited streaming subscription plan, which runs about $96 a year.

Read the full story here >>

via Daily Finance

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