The shifting tides of change continue to leave old forms of media washed up, and the remolding of the new digital media age is starting to take root and sprout all over the place. Of the many companies that are gearing up to lay claim to these unchartered waters, Amazon is poised to position itself at the top of the media hill.
After revolutionizing the world of online retail with its warehousing of books and music, Amazon is preparing to digitize its entire operation. They’ve already introduced the Kindle, an electronic book reader that plays MP3 and its compatible with Audible, an audio book retailer that Amazon acquired for $300 million that plays audio books. They are betting on consumers abandoning hard copy books in favor of e-books.
To phase out physical sales of DVD’s and CD’s they have introduced Amazon Unbox which enables users to receive downloadable content that can be used on mobile devices. A deal was made with Tivo for customers to receive content directly to their TV’s. Now, with all four record companies on board with their music store initiative they are poised to take on the behemoth known as iTunes. Mindful that they are at the dawning of a new digital age Amazon is giving itself several years to for its initiative to fully kick in.
“One of the assets of Amazon, we believe, is a culture that supports investment in future businesses,” Steven Kessel, VP of Worldwide Digital Media said. “You have to be patient and you have to be relentless as a company to be able to do that.”
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