Amazon surprises with its plans! A report from Bloomberg shows how much money the platform plans to spend annually on the production of 12 to 15 films. Cinema operators delighted!
The investments and commitments towards Amazon cinemas seem really big. The Bloomberg report shows that the budget for the annual production of as many as 15 films that are to be released in theaters is $ 1 billion. At the moment, no finalization has taken place, and the amount of production is only expected to increase over time.
Amazon is already looking for theaters to release their films. However, it also marks its separateness from other streaming services. An example would be Netflix. His productions appear in cinemas for a much shorter time before they reach the platform itself. Knives Out hit the site just a week after its first theatrical release.
What about the cinema?
It turns out that the shares of AMC and Cinemark increased by several percent after the publication of the previously mentioned report. The 2020 pandemic forced cinemas to close completely. This resulted in a significant decline in ticket sales throughout the United States. Therefore, Amazon Studios’ plans are probably very good news for most networks.
The head of Amazon Studios speaks out
With all the IP and our growing strategy around video, there will be more opportunities.
said Jennifer Salke
Our goal is to make some big movies that will have value across the theatrical spectrum and then streaming. The goal is to make hits. We all know it’s not easy. As we build bigger businesses around us and all the things we do in ad-supported streaming, we just think about more options for customers. Nothing beats louder than great originals that are global. You will see that we are investing more on the film and television side.
she added
And you, what do you think? Share your opinion in the comment!