Since the Prime Videos, Amazon has always been promoting original content. There is no doubt, after pandemic OTT platforms has boomed and theatre business has drastically went down. Even now, theatre business are not at what it was earlier. But, after Amazon announced that they will be spending $1 Billion a year on theatrical movie releases, business stock price has spiked up. The entire Theatre business stock has hiked to average of 5.5% after the news.
This leads us to think that other OTT platforms like Netlix might also get into this. As of now, Amazon is expected to produce not more than 12 movies a year. Later as the business grows the company will definitely make more movie. With this, we are quite assured that we might see better and more original content in theatres.
It was quite obvious that Amazon will get more into movie making when they acquired MGM Studios for $8.45 billion. But making a theatre movie was something that no one expected. There os no comment on this from the founder Jeff Bezos, but the basic idea with this module is to get more subscriber in the Prime Video business.
If we look at the past, Amazon has produced videos like “Lord of the Rigs” and “The Big Sick”, but it was never expected to release 12 to 15 movies a year. What’s good with this is we will be getting more movies with better content.
So what you your thought on this? Let us know in the comment below.