Netflix's Latest Loss Is Amazon's Gain
Netflix's streaming service seemed more like a television package than a movie collection Tuesday as it ended its exclusive deal with Viacom's Epix cable network (it will still have non-exclusive access to the Epix library until next year). Rival Amazon moved in quickly to sign a licensing deal with Epix, which offers films from Paramount, Lionsgate and MGM, effectively doubling the number of movies offered by Amazon's Prime Instant Video. But Netflix spokesman Joris Evers told the Wall Street Journal that Epix titles represent less than 5 percent of the videos streamed on its service. Nevertheless, Netflix shares plunged again on news of the Amazon deal, falling as much as 10 percent on Tuesday, although winding up down 7 percent. They were down nearly 2 percent more at midday today (Wednesday).