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Amazon to invest $100 million for producing original video content on Prime

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Amazon has said that it will invest more than $100 million in the third quarter to produce original content for its subscription service Prime which allows users to stream movies, TV shows & music, and store photos. "A lot of you have probably seen a lot of the announcements that we've green-lighted a number of pilots. We're going to be in heavy production in those series that have been green-lit during Q3. We've also announced a number of pilots that will be in production on. And so that original content, it's a portion of our total content, will be over $100 million in Q3," Amazon chief financial officer, Tom Szkutak told analysts in a conference call. Szkutak said that the company added more Prime subscribers in Q2 of this year than in Q2 of last year, but however declined to give further numbers on their subscribers. Memberships for Amazon Prime grew 53% year-on-year (YoY) in Q4 2014 globally Szkutak had said during the Q4 2014 earnings conference call. In January, Amazon India said it will offer music and video streaming services later this year and it was also reported that it had hired former Multi Screen Media executive Nitesh Kripalani to head its digital content business. Kripalani was instrumental in developing  Sony Liv and Liv Sports. A number of Indian video streaming applications have also started to invest in producing original content for digital over the last few weeks. Some of them: -  Eros International will produce three original shows which will be streamed on its…

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