E-commerce company Amazon (AMZN) is entering the arena of live news with plans to cover the results of the U.S. presidential election on its Prime Video platform.
The technology giant said it will air a live special on Nov. 5 that provides real-time election results and analysis on Prime Video. The live program will be anchored by broadcast journalist Brian Williams, who previously worked for NBC News and MSNBC.
In a news release, Amazon said that its election night coverage will be “non-partisan” and focus on providing viewers with information drawn from a variety of sources. The U.S. presidential coverage is the company’s first entry into the realm of live news. Amazon added that viewers will not need a Prime subscription to access the live news stream on election night.
Streaming Live Events and Sports
Live events and sports are widely seen as the new frontier of streaming services. Amazon has been increasingly moving into live sports programming on its Prime Video service as a way to boost subscriptions. This July, the tech giant signed an 11-year rights deal to carry live NBA basketball games starting with the 2025-26 season.
Amazon is also streaming live Thursday Night Football games and has acquired the rights to stream some live NHL hockey games this season. Amazon is not alone in moving towards live-streaming events. Netflix (NFLX), the leader among streaming platforms, is also increasingly hosting live events ranging from a hotdog eating contest to a celebrity roast of former NFL quarterback Tom Brady.
Is AMZN Stock a Buy?
Amazon stock has a consensus Strong Buy rating among 47 Wall Street analysts. That rating is based on 45 Buy and two Hold recommendations made in the last three months. There are no Sell ratings on the stock. The average AMZN price target of $224.38 implies 19.61% upside from current levels.
