Group 1 - Amazon announced the termination of its independent free streaming service Freevee, integrating content into the Prime Video platform [1] - Freevee, launched in 2019, provided ad-supported video content and will cease operations in August, with users able to access related shows and movies on Prime Video without a subscription [1] - The move aims to simplify the viewing experience for users, coinciding with the introduction of ads on Prime Video in January 2024 [1] Group 2 - Analysts anticipate a potential upward movement in Amazon's stock price ahead of its second-quarter earnings report, expected around July 31 [2] - The annual Prime Day promotional event from July 8 to 11 is expected to boost sales significantly [2] - Truist Securities raised Amazon's target stock price from $226 to $250, indicating approximately 13% upside potential from the previous closing price [2]

Group 1 - Amazon is discontinuing its standalone free streaming TV service, Freevee, to consolidate content offerings under Prime Video [1][2] - Freevee, launched in 2019, provided ad-supported video content, including original series and some Prime Video content [1] - The Freevee app will shut down in August, allowing users to access shows and movies on Prime Video for free without a subscription [2] Group 2 - Prime Video will become the exclusive home for Freevee TV shows, movies, and Live TV [2]

Core Insights - Amazon is shutting down its standalone Freevee app in August, directing users to access Freevee content on Prime Video instead [1][2] - The integration of Freevee content into Prime Video is part of Amazon's strategy to simplify its streaming services and consolidate offerings on a single platform [5] Group 1: Service Transition - The Freevee app will remain accessible until August 2025, allowing users to watch Free Originals and a library of movies and shows for free on Prime Video without a subscription [2][3] - Amazon previously announced in November 2024 its decision to phase out Freevee branding while ensuring no change to the content available for Prime members [3] Group 2: Historical Context - Freevee, launched in 2019 and initially named "IMDb TV," was rebranded in 2022 and is available in the U.S., U.K., Germany, and Austria [6] - Popular original series on Freevee include "Jury Duty," "Bosch: Legacy," and "Neighbours," which will now be accessible under the "Watch for Free" section on Prime Video [6] Group 3: Industry Trends - A recent Nielsen report indicated that streaming services surpassed cable and network television in total viewership in the U.S. for the first time in May, with free streaming services significantly contributing to this growth [8] - PlutoTV, Roku Channel, and Tubi collectively accounted for 5.7% of total TV viewing in May, highlighting the rising popularity of free streaming options [8]