It looks like we might be in a Content War battle...The question is, who has deeper pockets to win this thing? NFLX or AMZN?
A year ago Netflix would have been down 10% on this news. Amazon is losing a lot of money with its streaming service and is not much competition for Netflix.
The day is young :-)
Answer - Neither!
Both have cash flow problems this year, even after taking significant debt on. Not a lot of cash sitting on either balance sheet relative to operational requirements.
Looks like Amazon "stealing" spongebob from Nflx is a good news for netflix, if you look at the market price today... Go figure..