The Netflix CEO gave an interview to Dow Jones today in which he said Amazon is losing between $500 million and a $1 billion a year as a result of acquiring rights to streaming video content.
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No doubt, it's an expensive business and Hastings should know given that his company last month said it would likely be spending more than $2 billion in content in the next year. But he should also know that Bezos may be one of tech's most determined CEOs; when it comes to planting Amazon's flag in a new business which he believes is strategic to the company's future, money has rarely been an issue. We saw something of that philosophy recently when Bezos indicated in a Charlie Rose interview that Amazon may begin opening retail stores in the future.