Amazon is preparing to launch a streaming video service in order to better compete with digital content rivals Apple and Netflix. The Internet’s largest vendor, is hoping to increase its sales of digital content, i

ncluding music and movies. In an effort to promote its offerings while increasing revenue, the company will soon launch a streaming video service, though details are scant.

At Wall Street Journal’s conference D: All Things Digital, Amazon CEO Jeff Bezos revealed the company’s newest offering, saying the service will start out as a pay-as-you-go service, but considering its nearest competitor in the market, Netflix, it may change to a monthly subscription soon after launch.

The service will be the newest addition to the site, as it tries to dent the markets of iTunes and Netflix.

Recently, Amazon added more digital content to its site, offering video, music, and television show downloads. The company also has a partnership with TiVo that enables users to access Amazon’s Unbox service to order and watch videos on their television.

iTunes has long been the dominant provider of digital music, but Amazon’s music service aims to grab some of the market through a wider variety of music, as its music catalogue is bigger—by about four million songs.

The lack of details regarding Amazon’s new service may signal a precise plan to target Netflix, or that the company is still finishing the final details.

Either way, look for Netflix to have a significant competitor in the near future, considering the scope of Amazon’s user-base and the company’s growing variety of digital content.

By Danny Scuderi