According to bloomberg Amazon sources reportedly say the online company is poised to take a huge step forward with its entertainment plans. According to sources who reportedly asked to remain anonymous as the retailer is still working on the strategy, Amazon expects to allocate $1 billion to produce 12-15 films a year that will play in theaters.
According to Bloomberg Intelligence analyst Geeta Ranganathan, “Amazon.com’s plans to invest $1 billion to produce 12 to 15 films a year for theaters is a vote of confidence for the theatrical model,” she said. This could “easily increase revenue by 15-20% given that Universal and Warner have roughly the same budgets.” The move will eventually put them on par with some of the biggest film studios in the industry. The source also states that they will ramp up slowly, so it could be a year or two before we see Amazon Studios release movies at the rate of one a month or so.
The studio hasn’t completely weaned itself from theatrical releases as it has moved on to the more traditional practice of buying films at the Sundance Film Festival and releasing them in theaters. This method brought them some attention from critical darlings”big sick” as well as “Manchester by the sea.”
#Amazon #Huge #Commitment #Launch #Movie #Theaters