Amazon’s doing THIS in battle with Netflix, Apple

Amazon Prime
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Amazon Prime

Amazon will "double down" on its investment in original programs for its video-streaming service, its European head of video told CNBC, amid fierce competition from the likes of Netflix.

E-commerce giant Amazon has released a number of its own television series on its online-streaming service, Prime Instant Video, and even wontwo Golden Globe awards for its program "Transparent."

Given the success, Jay Marine, vice president of Amazon Instant Video in Europe, told CNBC the company would invest more in new shows to remain competitive.

"We're going to continue to double down in that area, invest more to bring our customers worldwide, more originals, more great TV series that they have never been able to see before," the executive told CNBC at the launch of this year's London Technology Week.

"The reality is there's lots of places to get videos, it's a very competitive market, we need to provide something different," he added.

Amazon invested $1.3 billion in Prime Instant Video in 2014, according to the company's CEO Jeff Bezos and has produced a number of original programs. Woody Allen earlier this year signed a deal to write a six-episode television show for Amazon, showing that big Hollywood names see the appeal of streaming services.

However, Amazon's offering has stiff competition from the likes of Netflix and possibly even Apple when it launches its rumored streaming service.

Plus, Amazon is still behind Netflix when it comes to user numbers. Its rival had 60.4 million users globally in the first quarter of this year compared to Amazon's 13.6 million, according to research from IHS.

Amazon offers its video service as part of a $99 per year subscription to Prime, which allows users to watch its streaming service and listen to music, among other features.

In comparison, Netflix costs $8.99 a month.

Marine said that bundling the video service with Prime membership has been key so far in attracting users.

"People see the value. You get free one-day shipping and you get this video service and people will be paying that amount in a year anyway. People are smart," Marine said.