Originally posted on VentureBeat:
The Prime Instant Video is a complimentary video service offered to members of Amazon Prime, the $79 per year service that provides free two-day shipping to tons of products sold by Amazon. The new Instant Video iPad App represents one of the first big steps by the company to directly compete with streaming video service leader Netflix, which currently has 24 million domestic subscribers.
Netflix has long predicted that Amazon would break the Prime Instant Video service off into a separate service, along with its own monthly subscription fee. Amazon, however, is taking a different route that should make Netflix investors nervous, since the service could eventually steal away Netflix subscribers.
The new Instant Video app basically functions like Netflix’s iPad app in the…
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