E-commerce giant Amazon(AMZN) - Get Report , already having captured significant market share in a range of competitive businesses including electronics, book publishing, shipping and delivery, online media streaming and cloud storage, is now gearing up to build a virtual reality team.
According to a posting on Glassdoor, the jobs review site, "Amazon Video is seeking a talented Senior Software Development Manager to lead our Virtual Reality team. This team is responsible for building the Virtual Reality experience within Amazon Video.
"Entertainment is evolving rapidly," the job posting notes. "The future will not be limited to passive 2-D experiences. The Virtual Reality team will explore and create the platform and interface for immersive storytelling. This will include an ingestion and playback platform for Virtual Reality experiences."
Amazon said it it seeking candidates with 15-plus years of engineering experience and "a proven track record of building teams and delivering software through all phases of development."
Amazon shares closed at $560.26 Tuesday, a decline of less than 1%.
In a growing trend that will continue to benefit companies like Facebook(FB) - Get Report and Alphabet(GOOGL) - Get Report , eMarketer predicts that digital advertising spending will surpass that of television for the first time in 2017.
According to eMarketer's latest quarterly ad spending forecast, TV ad spending will total $72.01 billion in 2017, or 35.8% of total media ad spending in the US. Meanwhile, total digital ad spending in 2017 will equal $77.37 billion, or 38.4% of total ad spending. Of that amount, 26.2% of ad dollars will be captured by mobile, eMarketer said.
"We still expect positive growth for TV ad spending, driven by political advertising and the summer Olympics," said eMarketer Senior Forecasting Analyst Martín Utreras. "However, we see more ad dollars flowing to digital as a way of optimizing spending in what may be a challenging economic year."
This year TV ad spending is expected to represent 36.8% of all ad dollars, with digital capturing 35.8%. Mobile will take 22.7% of that amount. Print publications, radio and other categories receive the remainder of industry ad dollars.
Shares of Facebook closed at $105.93 Tuesday, a gain of less than 1%. Alphabet closed at $713.53, also up by less than 1%.
Facebook and Alphabet are both holdings of Action Alerts PLUS, the charitable trust portfolio managed by TheStreet's Jim Cramer.
Shares of Microsoft(MSFT) - Get Report rose by 1.2% Tuesday, closing at $51.65, after the company said its database software product SQL Server will also run on Linux, a competing operating system to Windows.
"We are bringing the core relational database capabilities to preview today, and are targeting availability in mid-2017," Scott Guthrie, Microsoft EVP of cloud and enterprise, said in a company blog post late Monday afternoon. Read TheStreet'sfull report.
This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.