Amazon and Viacom to Sign Video Deal [REPORT]

Amazon and Viacom might sign a video deal as soon as this week, bringing Amazon one step closer to launching a standalone video streaming service, Reuters reports.

Amazon’s Prime Instant Video is currently a part of Amazon Prime program, which provides members with unlimited two-day shipping and other benefits for $ 79 per year.

In September, Amazon inked a video deal with Fox; previously, the company signed deals with CBS, NBC, Sony, Warner Bros. and others.

The addition of Viacom to that list is another sign that Prime Instant Video might soon become a full-fledged competitor to Netflix and other streaming video companies. Google and Verizon are also expected to launch an online video streaming service in 2012, which should make for a very interesting year.

The competition for the streaming video crown is also heating up in the UK, where Netflix recently launched its service to compete with Amazon’s LoveFilm.

[via Reuters]