Amazon to Launch On-Demand Video Streaming

Amazon plans to open the sluices for pay-per-view video streaming within weeks, Reuters reports. The Internet retail giant already rents videos for download via the Web but is enhancing its digital media service to better compete with rivals like Apple and Netflix. Amazon boss Jeff Bezos told a conference yesterday the service will be "a new version of video on demand."

Netflix has recently announced a similar streaming service, allowing consumers to watch movies without having to download hefty files. Bezos didn't offer the conference any further details on the new service, but analysts say the move signals the company's determination to make sure it's well-placed to compete in the increasingly crowded digital video marketplace. (More Amazon stories.)