Amazon planning free version of its video streaming service

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  • Planning to share ad revenue with TV networks in return for shows
  • Talking with TV networks, movie studios and other media companies
  • Wants to dive into back catalogs of TV and movie studios for the service 

Mark Prigg For Dailymail.com

Amazon is developing a free, ad-supported video streaming service, it has been claimed.

The retail giant is believed to be planning to share ad revenue with TV networks in return for shows, according to Ad Age.

The company is talking with TV networks, movie studios and other media companies about providing programming to the service, it says.

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Amazon CEO Jeff Bezos has shared some of the secrets of his success, hot on the heels of becoming the world's richest man. The billionaire candidly discussed his fame and fortune during an on-stage interview, conducted by his younger brother Mark

Amazon CEO Jeff Bezos has shared some of the secrets of his success, hot on the heels of becoming the world's richest man. The billionaire candidly discussed his fame and fortune during an on-stage interview, conducted by his younger brother Mark

Amazon CEO Jeff Bezos has shared some of the secrets of his success, hot on the heels of becoming the world’s richest man. The billionaire candidly discussed his fame and fortune during an on-stage interview, conducted by his younger brother Mark

Ad Age says it wants to dive into back catalogs of TV and movie studios for the service, and is also going after lifestyle, travel, cooking and other shows that are a good fit for an e-commerce platform.

However, Amazon denied the claims, and a spokesperson told Dailymail.com : ‘We have no plans to create a free, ad-supported version of Prime Video.’ 

Amazon is already expected to spend almost $5 billion on content this year for its Prime Video service, according to Wall Street analysts. 

Amazon recently moved its Amazon Studios from Santa Monica to the Culver Studios lot in Los Angeles where ‘Citizen Kane’ was filmed.

Amazon has greenlit a TV series based on The Lord Of The Rings franchise.

And it has given a multi-season order to the high-budget series based on J.R.R. Tolkien’s fantasy epic, according to EW.com on Monday.

The story is set before the events in the first of the three LOTR novels, The Fellowship Of The Ring.

But there is no indication of whether it will also take place before The Hobbit or between The Hobbit and LOTR.

‘We are delighted that Amazon, with its longstanding commitment to literature, is the home of the first-ever multi-season television series for The Lord Of The Rings,’ said Matt Galsor, a representative for the Tolkien Estate And Trust and publisher HarperCollins.

‘The team at Amazon Studios have exceptional ideas to bring to the screen previously unexplored stories based on J.R.R. Tolkien’s original writings.’

Ealier this month Amazon CEO Jeff Bezos candidly discussed his fame and fortune during an on-stage interview, conducted by his younger brother Mark against a backdrop of old family photos.

BEZOS GUIDE TO LIFE 

Never multitask: Key to Bezos’ philosophy is avoiding multitasking, preferring to concentrate on one job at a time until it is complete instead of constantly switching back and forth.

Be resourceful and resilient: Bezos spent his summers from age four to sixteen on an isolated farm owned by his grandfather, where he says he learned the value of self-reliance and surviving tough times.

Meet the right partner: The Amazon boss says he knew his wife of 24 years was the one due to her own resourcefulness.

Take risks and don’t have regrets: Bezos cited his own decision to quit his profitable job working in finance software engineering on Wall Street to start the internet book store that would become Amazon.

Approach problems with ‘child-like curiosity’:  People often believe you have to be a ‘domain expert’ to find solutions to problems. ‘But the danger is that once you’re a domain expert, you can be trapped by that knowledge,’ said Bezos. He recommends approaching things with childlike curiosity.

Among the revelations attributed by Bezos building his almost $95 billion worth were meeting the right partner, never multitasking and approaching problems with a ‘child-like curiosity.’ 

Bezos made the comments at the Summit Series, an invite-only event held in Los Angeles for leaders across multiple fields, from business to the arts.

High on his list of priorities was his resourceful wife, who he met after a series of blind dates organised by friends, according to reports in Tech Crunch.

The Blue Origin founder says he knew he’d found the one in MacKenzie, and the pair have now been married for 24 years.

‘I wanted someone who could get me out of a third-world prison,’ he said at the Summit Series.

Also key to Bezos’ philosophy is avoiding multitasking, preferring to concentrate on one job at a time until its complete instead of constantly switching back and forth.

‘When I have dinner with friends or family, I like to be doing whatever I’m doing,’ he added.

‘I don’t like to multi-task. If I’m reading my email I want to be reading my email’. 

He said thatPeople often believe you have to be a ‘domain expert’ to find solutions to problems. 

‘But the danger is that once you’re a domain expert, you can be trapped by that knowledge,’ said Bezos. 

He recommends approaching things with childlike curiosity. 

During the intimate conversation, Bezos also discussed his early life and the valuable lessons that he learned. 

Bezos spent his summers from age four to sixteen on an isolated farm owned by his grandfather.

It was there he says that he learned the value of self-reliance and surviving tough times.

He also espoused the value of taking risks and not having regrets in life.

The Blue Origin founder says he knew he'd found the one in MacKenzie, and the pair have now been married for 24 years

The Blue Origin founder says he knew he'd found the one in MacKenzie, and the pair have now been married for 24 years

Over the years, the billionaire's public image has transformed from a bookish figure to a man of action

Over the years, the billionaire's public image has transformed from a bookish figure to a man of action

Among the revelations attributed by Bezos to his prosperity were meeting his wife Mackenzie , as well as dedicating all of his energies to the task at hand. Over the years, the billionaire’s public image has transformed from a bookish figure to a man of action

Bezos cited his own decision to quit his profitable job working in finance software engineering on Wall Street to start the internet book store that would become Amazon.

He said: ‘I knew that when I was 80, I was not going to regret having tried this.

‘I was not going to regret trying to participate in this thing called the Internet that I thought was going to be a really big deal. I knew that if I failed, I wouldn’t regret that.

‘But I knew the one thing I might regret is not ever having tried. I knew that that would haunt me every day.’

THE WORLD’S RICHEST MAN 

Amazon CEO Jeff Bezos added $6.24 billion (£4.6 bn) to his wealth, becoming the world's richest person

Amazon CEO Jeff Bezos added $6.24 billion (£4.6 bn) to his wealth, becoming the world's richest person

Amazon CEO Jeff Bezos added $6.24 billion (£4.6 bn) to his wealth, becoming the world’s richest person

Amazon CEO Jeff Bezos added $6.24 billion (£4.6 bn) to his wealth, becoming the world’s richest person ahead of Microsoft founder Bill Gates in October.

The company’s third-quarter earnings far surpassed Wall Street expectations, helped by the acquisition of organic grocer Whole Foods and an increase in sales during its summer ‘Prime Day’ promotions.

As Amazon‘s share price began to surge on the news, Bezos’s wealth shot up to more than $90 billion (£68.7 bn), according to calculations by CNBC and data from the Bloomberg Billionaires Index.

It is not the first time he has been the world’s richest person but his reign only lasted for one day, July 27, this year.

The tech and media mogul’s net worth is tightly tied to his 16.6 per cent stake in Amazon, which he founded in 1994.

The Seattle-based company has grown from its online retail roots to cloud computing, streaming video, artificial intelligence and more.

Amazon’s shares have recently been boosted by its acquisition of grocery chain Whole Foods.

Amazon's shares soared in October after it boosted revenue from its fresh acquisition of grocery chain Whole Foods and an expanded line-up of devices tapping into its digital assistant Alexa

Amazon's shares soared in October after it boosted revenue from its fresh acquisition of grocery chain Whole Foods and an expanded line-up of devices tapping into its digital assistant Alexa

Amazon’s shares soared in October after it boosted revenue from its fresh acquisition of grocery chain Whole Foods and an expanded line-up of devices tapping into its digital assistant Alexa

The firm has also expanded its line-up of devices tapping into its digital assistant Alexa.

Alexa, the AI software, is included in Amazon’s connected speakers and third-party products ranging from appliances to automobiles.

Along with its growing influence, Amazon has become one of the most valuable companies on the planet alongside US tech rivals Apple, Facebook and Google parent Alphabet.

Amazon said that for the fourth quarter, it expects revenues in a range of $56 (£43 billion) to $60.5 billion (£46.2 billion), representing growth of 28 to 38 per cent compared with last year.

He is currently believed to be worth $94.6 billion.