Amazon gaining on Netflix
Apr-19-2016

Shares of Amazon popped 1.5 percent in early Monday trading, hours after the e-commerce giant announced it was taking direct aim at Netflix by offering a standalone, pay-by-the-month video streaming service.

Called Prime Video, the service costs $8.99 a month - or $1 less than Netflix will cost after a May price increase.

Netflix shares slumped 2 percent, to $109.30, in Monday morning trading.

Prime Video is the first time Amazon offered a video streaming-only service. Before, it was included in the $99-a-year Prime service, which also included free two-day shipping and a music-streaming service.

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