Netflix CEO Reed Hastings says Amazon is losing between $500 million and $1 billion a year on its Prime streaming video service.
He came up with that range based on deals that Netflix and Amazon competed for, says Peter Kafka at All Things D. Hastings was speaking to a group of Dow Jones reporters, including Kafka.
Despite, or because, of the fact that Amazon is losing all that money, Hastings thinks, "Amazon is the best competitor we’ve ever faced."
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