The Video Streaming Space Is Getting Crowded - Netflix (NASDAQ:NFLX), Amazon.com (NASDAQ:AMZN)

The runaway success that

Netflix, Inc.NFLX

has had in the movie and TV streaming business has prompted a rush toward the sector, with everyone from small startups to big name cable companies trying to get in on the action.

As more consumers cut the cord and turn toward online viewing, the competition has started to heat up.

Spotify Throws Its Hat In The Ring

Last week, Spotifiy AG

announced

that it was planning to expand its music streaming service to include videos and podcasts. The company will release exclusive content from popular channels, which have agreed to partner with the Swedish music giant.

Comedy Central, ABC and ESPN are all planning to contribute to the company's library. For now, all of the videos appear to be short clips, but many see the firm eventually expanding its offerings to include full-length programs.

Price Wars

Established streaming services Netflix and Hulu LLC have found themselves in competition for the rights to particular shows. A recent battle over Fox's hit show "Empire" ended with Hulu outbidding Netflix and winning the exclusive rights to offer the show on its online streaming service.

Hulu's main focus has been building out its content library in an effort to offer customers a more robust array of programming.

Original Content

However, Netflix and

Amazon.com, Inc.AMZN

have started to set themselves apart from competitors by focusing on original programming. Netflix has become synonymous for great new shows with its smash hits "Orange is the New Black" and "House of Cards" receiving a warm reception from viewers.

Amazon's series "Transparent" gained the company some notoriety when it won two Golden Globe awards.

Image Credit: Public Domain

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