In its second-largest acquisition, Amazon buys the company for $970 million.
The e-retailer inks a deal with Paramount Pictures to offer hundreds of films for free.
Amazon.com Inc. today announced it has signed a licensing agreement with Paramount Pictures to make hundreds of that studio’s films available for free to Amazon customers who are members of Amazon Prime.
Amazon Prime is the e-retailer’s $79 annual membership program that gets members two-day shipping on all orders and access to a growing amount of digital content, including streaming video content via Amazon Instant Video and e-books for Kindle owners.
Amazon says the deal with Paramount will add hundreds of movies to Prime Instant Video over the next three years, including hit films from years past such as “Forrest Gump,” “Top Gun” and “Breakfast at Tiffany’s.” Amazon says the library of films and TV shows available to Prime members now includes more than 17,000 titles.
“We are continuing to invest in building a vast selection for Prime Instant Video and are excited to bring Prime customers some of the most renowned and popular films in cinema history under this new agreement,” says Brad Beale, Amazon’s director of digital video content acquisition.
Amazon.com is No. 1 in Internet Retailer’s Top 500 Guide.