Mega online retailer Overstock.com plans to launch a video on demand and streaming service to rival Amazon, the company's CEO announced Tuesday.
Overstock plans to launch its VOD service by mid-2015 with 30,000 and begin streaming both original and acquired content, the Hollywood Reporter reports.
The website will use analysis of product searches by its 25 million to 40 million unique visitors a month to determine what movies and TV shows to make available, CEO Patrick Byrne said. The service will be available to customers of Overstock's loyalty program, which costs $20 a year.
“We will be a competitor to Amazon,” Byrne said. “We think our loyalty program is better than Amazon's. We give you five to 25 percent back on what you spend. So we pay people back for their digital downloads.”