Amazon pips Apple to the post with web TV announcement

Everyone seems to be stepping into the Internet TV market at the moment and Amazon is the latest company linked with a TV and movie streaming service.

Amazon is believed to be talking to media companies such as Time Warner, CBS and Viacom about its plans.

Amazon’s service would compete against services such as Hulu, which offers a free, ad-funded online video service, and Netflix which offers online TV show and movie rental.

It is believed that Amazon is considering a web-based subscription service which would offer old films and TV shows and which would be bundled with its existing Amazon Prime service.

An announcement is also expected today from Apple about its Apple TV service, which is expected to offer TV shows from the iTunes store.