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Amazon working on new online TV service

US-based online retail giant Amazon is reportedly set to create its own online TV service which could pose a challenge to all cable and satellite TV providers. There are rumors that the online giant might have approached three big media companies about the possibility of featuring some of their TV channels – which are traditionally played on cable TV – through a new streaming video service.

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Until that happens, Amazon already has a significant amount of stakes in streaming video. Apart from being the major seller of digital media, the company provides a massive library of movies, as well as TV shows to anyone who subscribes to its Prime membership. Moreover, Amazon will also be producing its own original TV content, which will be available only to Prime members.

In addition to that, Amazon might be working on its own set-top box. A TV service with the Amazon brand would make plenty of sense for the company and will also be a good competitor in the TV ad industry worth billion dollars. The online retailer not only owns massive amount of consumer shopping data, but also has a platform to sell the products which are being advertised.

Sources familiar with the situation have indicated that Amazon TV service is still in the early stages of development and it remains unclear if it will move forward and when.

Photo Credits: CDN

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