Netflix CEO: Amazon Losing Up to $1 Billion a Year on Streaming Video

Netflix CEO Reed Hastings estimates that Amazon is spending up to $1 billion a year on streaming content for Amazon Prime.

Hastings (pictured), who spoke with Dow Jones editors, said he was basing that stat on deals in which Netflix and Amazon have competed head to head, according to AllThingsD. Hastings also believes Amazon splits the spending fairly evenly between the U.S. and Europe, where Amazon runs the Lovefilm streaming service. Amazon reps could not be reached for comment about the claim.

Netflix will pay about

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