Amazon.com on Thursday unveiled a widely anticipated Internet service offering movies and TV shows that can be downloaded to personal computers, moving it into a nascent and higher-margin business.
The service, called Amazon Unbox, will offer thousands of titles from six Hollywood studios, including 20th Century Fox and Warner Bros., and TV networks such as CBS and Fox and cable channels Comedy Central and E! Entertainment, Amazon said.
Shares in the online retailer, which closed at $29.73 on Nasdaq, rose 23 cents in extended trade, up nearly 1 percent.
Speculation about an Amazon download service had been rife for months, with Wall Street pleased by the prospect due to the higher profit margins in digital downloads.