As rumoured, Amazon has announced its own set-top media streaming box called Fire TV.

Media streaming is booming and the market is hotting up with Amazon deciding to launch its own hardware to take-on the Apple TV, Google Chromecast and Roku's players. It's called the Fire TV to tie in with the firm's Kindle Fire tablets.

The small black box plugs into your TV with an HDMI cable and is able to stream 1080p content over its built-in dual-band Wi-Fi. Speedy performance is touted by Amazon with a quad-core processor and 2GB of RAM - the kind of specs you'd find in a high-end smartphone.

Amazon says a feature called 'ASAP' means content will start playing immediately after you press play with no lag. It also has HDMI-out, Dolby digital surround sound support, optical and Ethernet ports.

A Bluetooth remote control features a microphone so you can control the Fire TV with voice commands and search. "There's no shouting across the room at your TV, which is irritating," said Amazon's Peter Larsen.

The Fire TV is runs on Android and as you would expect is hooked up to the firm's Prime Instant Video service for films and TV shows. However, you can also access other services from the little black box including Pandora, Spotify, YouTube, Vevo and Crackle.

Surprisingly, Netflix is even supported with Amazon taking aim at rivals for their 'closed ecosystems' - particularly the Xbox which requires an annual Xbox Live GOLD subscription to access services like Netflix.

A gaming controller for around $40 will turn the Fire TV into a sort of games console.

We'll update you on when you can get your hands on the Amazon Fire TV and how much it will cost as soon as we hear.