Amazon Studios has announced it is going to produce full-length feature films for the big screen before making them available for streaming online.
The Verge reports Amazon plans to make up to 12 movies a year beginning in 2016.
The films will be available to its Prime subscribers in the US four to eight weeks after they are released in cinemas.
The news follows a number of streaming services jostling for market share in the US and Australia.
On-demand video service Netflix will launch in Australia and New Zealand in March this year – set to compete with already locally established streaming services Quickflix and EzyFlix.
Rubikloud raises $7 million to help retailers tap into big data
Canadian startup Rubikloud has raised $7 million in Series A funding to help retailers leverage big data in order to boost sales.
The round was led by TOM Group and Ule, along with Access Industries and a number of private investors.
Rubikloud allows customers to analyse data in real time, and says the funding will be used to expand its workforce and customer reach in America and China.
Co-founder and chief executive Kerry Liu said in a statement retailers are “waking up” to the fact that the future of retail will be data-driven.
“If they don’t understand their customer across all their channels, they will become obsolete or lose their brand recognition and loyalty,” she says.
Venture capitalists gave $48.3 billion to US startups in 2014
Venture capital has reached its highest point in the US since the peak of the dot-com boom in 2000, according to Bloomberg.
American startups received $48.3 billion in venture capital in 2014, an increase of 61% from the previous year. Last year saw startups receive more than double the $20.4 billion invested in US tech companies in 2009.
Last year saw the most funding pumped into US startups since 2000, when venture capitalists poured $105 billion into the tech industry just before the dot-com bust.
The Dow Jones Industrial Average is up 190.86%, rising 1.10 points to 17,511.57. The Aussie dollar is currently trading at $US82 cents.