One of the largest e-commerce platforms, Amazon.com said that it had spent $1.7 Billion in the music and video content in the first quarter of the year, the first time the retail and tech giant company has itemized the growing cost of providing the streaming service to its users.
According to the report which has been revealed by the company, it spent around $1.5 Billion on the music and video in the year 2018. That sum includes the cost of producing the original filmed and music offering with the cost of licensing the content as well as costs associated with the digital subscription services and rented content.
Amazon provides the customer’s access to streaming video and much with the help of its Paid prime membership program, as well as some other standalone subscription options as well. Previously, in the month of March, the company had revealed an ad-supported streaming music service. Amazon is in stiff competition with the HBO, and Netflix in the market.
According to Bloomberg, Netflix spent around $15.1 Billion on the content this year, which even includes the $3 Billion in the first three months of 2019.