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Online video streaming service restored by Netflix- AMZN

December 26, 2012 by Brent Watts in Market

Netflix, Inc.(NASDAQ:NFLX), which is one of the biggest video- streaming service providers across the world, revealed that they have restored the access to their movies and television shows. The access was disrupted by the Web storage and computing system of Amazon.com, Inc.(NASDAQ:AMZN).

According to Joris Evers who is a spokesman on Netflix, Inc. (NASDAQ:NFLX) behalf disclosed that many of their American customers were not able to get an access over the online content since yesterday around 3.30 p.m. till late on the eve of Christmas. He further added that the problem was caused due to issues with Amazon.com, Inc. (NASDAQ:AMZN) Web Services, which is a business being hosted on the internet and is entirely different from an online retail store. Presently subscription and on-demand services are the most important revenue generating source for the company, which used to offer DVD rentals through email. The reports of the third quarter clearly reflected that streaming services contributed about seventy percent of the sales. Reed Hastings, who is the chief executive officer is trying hard to make Los Gatos, California based Netflix, Inc. (NASDAQ:NFLX) to be available around the world so that people will be able to get an instant access to the content through the internet.

In an email Evers communicated: “We are happy that people opening gifts of Netflix, Inc.(NASDAQ:NFLX) subscriptions or Netflix, Inc.(NASDAQ:NFLX)-capable devices this Christmas morning can watch TV shows and movies and apologize for any inconvenience caused last night”. He ended by writing: “We are investigating the cause and will do what we can to prevent re-occurrence”

Amazon.com, Inc.(NASDAQ:AMZN), who is one of the world’s biggest online retailers, deals in renting of data storage space and computer resources to other organizations and businesses globally. The issues that were interrupting the service of Amazon were resolved and they are looking forward to smoother operations for customers, as told by Tera Randall, a spokeswoman for Amazon. The streaming services in Europe remained unaffected with all this, Netflix, Inc.(NASDAQ:NFLX) stated.

The shares of Netflix, Inc.(NASDAQ:NFLX) is at $89.50.

The shares of Amazon.com, Inc. (NASDAQ:AMZN) is at $255.83

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About Brent Watts

Brent Watts before joining Market Buzz Media, Brent worked for Hubbard Broadcasting sister station KSTP in the Twin cities as part of the production team and now wants to focus his attention back into the newsroom. He graduated with a degree in broadcast journalism from University of St. Thomas and worked on St. Thomas’s T.V. station, Campus Scope, as a reporter and anchor. Brent gained valuable forecasting skills from The New England Shore Line to the Mountains of West Virginia. During his free time he loves watching and playing Ice Hockey.

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