Amazon Considers Ad-Supported Tier for Prime Video, Discretionary Sector Declines.

Amazon's shares closed down 4.2% on Wednesday, leading declines in the S&P 500 consumer discretionary sector, while video streaming companies Warner Bros Discovery and Paramount Global rallied. Amazon shares deepened losses after a Wall Street Journal report said the online retailer and video streamer is planning an advertising-supported tier for its Prime Video streaming service and that it is in talks with Warner Bros Discovery and Paramount about including ad-based tiers of their streaming services through Amazon Prime Video Channels.