Amazon.com, Inc. (NASDAQ:AMZN) declared on Monday that a content licensing contract deal with NBCUniversal Cable & New Media Distribution Paramount Pictures, expending the archive of films presently available on its streaming video site, Amazon Prime Instant Video. After the news, Amazon shares surged 1.88 percent, at the same time Netflix, Inc. (NASDAQ:NFLX) shares plunged 1.39%.
The online retailer firm Amazon has been constantly upgrading and endorsing movies and television shows on its streaming video service. Amazon has entered into a number of contracts current year. It signed a contract with Viacom in February, Paramount Studios in May and MGM Resorts International (NYSE:MGM) in June, which took the total number of available videos to more than 18,000.
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