Market Chatter: Amazon to Shut Down Freevee Streaming Service, Integrate Content With Prime Video

MT Newswires Live11-14 03:35

Amazon.com (AMZN) is set to close its free, ad-supported streaming service Freevee and fold it into the subscription-based Prime Video platform, Bloomberg reported Wednesday, citing people with knowledge of the matter.

Some Freevee programming and staff will transition to Prime Video, though certain shows will remain in a free format due to contractual obligations, the report said. Amazon is exploring ways to offer these shows on its main website, it added.

Amazon did not immediately respond to MT Newswires' request for comment.

Amazon shares were up 2.2% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 213.44, Change: +4.53, Percent Change: +2.17

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment