The following video is part of our "Motley Fool Conversations" series, in which analyst John Reeves and advisor David Meier discuss topics around the investing world.

Amazon.com has apparently signed deals with four record labels for its cloud-based music service. The online retailer clearly has its sights set on Apple's iTunes and the digital distribution of music. The company wants to continue to push into distributing all forms of digital media, which includes streaming movies like Netflix. The move is likely to give more content options for the Kindle Fire going forward, which could make the tablet more desirable than ones from Dell. David thinks this is a good move for Amazon.com and believes it will continue to push hard in this direction. Ultimately, this should be good news for Amazon's share price.

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David Meier owns shares of Apple. John Reeves owns shares of Apple and Google. The Motley Fool owns shares of Apple, Amazon.com, Google, and Netflix. Motley Fool newsletter services recommend Amazon.com, Apple, Google, and Netflix. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.