The online retailer Amazon.com Inc. (AMZN) recently announced its decision to produce two more original TV series. These two were chosen from a group of five pilots that were earlier produced for the third pilot season in August.
These include a dramatic thriller – Hand of God – written by Ben Watkins and directed by Marc Forster (World War Z). The show centers on Judge Harris, a married man who suffers a mental breakdown and goes on a vigilante quest to find the rapist who tore his family apart. Another show is a comedy series – Red Oaks – written by Gregory Jacobs and Joe Gangemi.
Management stated that these new series will be available on the Amazon Instant Video streaming service, where viewers can watch them free of cost.
These two original series will further extend the archive of shows available on Amazon's video streaming library, making it a significant force in the segment and increasing competition for Netflix, Inc. (NFLX) and Apple Inc. (AAPL). At the same time, it will help Amazon to expand its footprint into the growing streaming market at a much faster rate.
Last year, Amazon Studios released Alpha House and Betas, its first prime-time shows. Alpha House received positive responses and more episodes were broadcast, whereas Betas ended after the first season. This past February, based on customer feedback, Amazon decided to greenlight six series: Transparent, Mozart in the Jungle, Bosch, The After and kids’ shows – Gortimer Gibbon’s Life on Normal Street and Wishenpoof!
Management stated that all original series can be viewed using the Amazon Instant Video app available on Amazon Fire TV, Kindle Fire tablets, Fire phone, Apple's iPad, iPhone, iPod Touch, Roku, Xbox, PlayStation, Wii, as well as other connected devices.
Amazon has been firing on all cylinders to boost its digital media sales and attract new users. In this regard, the company is focusing on comedy and thriller programs to expand its content line-up and make Prime Instant Video service more attractive to viewers.
Amazon is one of the major players in an extremely fast-growing market. In the second quarter of 2014, Amazon's revenues of $19.34 billion were within its guided range and in line with the Zacks Consensus Estimate. Both product and service sales grew in double digits from the year-ago quarter and contributed 79% and 21%, respectively, to total revenue.
Currently, Amazon carries a Zacks Rank #4 (Sell). A better-ranked stock from the same sector is E-Commerce China Dangdang Inc. (DANG), which has a Zacks Rank #1 (Strong Buy).
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