Amazon Has Bad News for Cord-Cutters
If there's one business strategy that defines Amazon.com (NASDAQ: AMZN), it's the company's well-known penchant to sacrifice profit in the relentless pursuit of market share. CEO Jeff Bezos has become the second-richest person in the world thanks to his approach distilled in the simple epigram "Your margin is my opportunity."
As the joke goes, Amazon will eat the world by leveraging its low-margin, high-volume approach to dominate new markets and industries. Well, there appears to be one thing Amazon cannot disrupt: traditional subscription-based television. A report from Reuters found the company has scrapped plans to launch an online subscription-TV service because "it believes it cannot make enough money on such a service."
Image source: Getty Images.
Source: Fool.com
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