Amazon adds video hosting

Amazon's (NASDAQ:AMZN) latest offering aims to compete with YouTube as a video hosting platform. Amazon Video Direct will let users host videos and earn royalties.

The program is a natural complement to Amazon Prime's streaming services and the marketplace program that hosts third-party sellers.

Users can make uploaded videos available for rental or ownership, get performance metrics and profit from ads. Payment will be based on content performance, according to Bloomberg.

The service is designed for professional video producers and meant to increase the video selection for monthly Prime subscribers. According to Amazon, it has "tens of millions" of Prime subscribers, but third parties have estimated the number to be more than 54 million.

Content providers at launch include HowStuffWorks, Conde Nast Entertainment and Samuel Goldwyn Films.

As part of the service, Amazon is launching the AVD Stars program, which gives video creators a share of one million dollars per month based on customer engagement with their title. Amazon will distribute to creators a monthly bonus from the one million dollar monthly fund, based on the Top 100 AVD titles in Prime Video, in addition to any other revenue earned.

For more:
- see this Amazon press release