Amazon.com says not planning free TV service

April 11, 2014 Leave a comment

Amazon.com says not planning free TV service

2:02pm EDT

By Deepa Seetharaman

SAN FRANCISCO (Reuters) – Amazon.com Inc has no plan to offer a free streaming TV service, a spokeswoman said on Friday following a report that the online retailer might turn up the heat against Netflix and Hulu.

Speculation about Amazon’s plans for its TV service, including the possibility that it could launch its own streaming device, has increased ahead of a news conference in New York next week.

The Wall Street Journal reported on Thursday that the online retailer was considering a free, add-supported streaming TV and music service. Amazon spokeswoman Sally Fouts said no such plan was in the works.

“We have a video advertising business that currently offers programs like First Episode Free and ads associated with movie and game trailers, and we’re often experimenting with new things,” she said in an e-mail on Friday. “But we have no plans to offer a free streaming media service.”

Amazon’s streaming TV service currently comes included as part of its popular $99-a-year Prime service, which offers unlimited two-day shipping among other perks.

 

Filed under TMT Trends

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Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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