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Amazon planning subscription video service to challenge Netflix and Hulu?

Looks like one company's not ready to let Apple claim the spotlight with tomorrow's rumored $99 iOS-based Apple TV launch -- the Wall Street Journal reports that Amazon has a subscription-based streaming video service in the works. Reportedly focused on older content more easily pried from the iron fist of traditional media (similar to Netflix Watch Instantly and Hulu Plus), the service is aimed at the usual array of internet-connected devices -- the Xbox 360 was called out specifically -- and one anonymous source told the publication that Amazon intends to get the connected entertainment party started by Yuletide. Mind you, Amazon's not exactly new to the streaming video game. Remember Unbox? The day the company turned that service into Video on Demand it came with 40,000 programs -- a good 11,582 more than today's Hulu Plus. So, if the rumors are true, we imagine that over two years and many integrated systems later, Amazon might still have a decent leg up.