Washington Sources

Daily Health Resource

Amazon Just Made A Huge Commitment To Theatrical Releases

0 0
Read Time:1 Minute, 6 Second



According to a Bloomberg report, anonymous sources inside Amazon say the online company is poised to take a massive step forward in its entertainment plans. According to the sources, who have reportedly asked not to be named as the retailer is still working out the strategy, Amazon intends to allocate $1 billion to produce 12-15 films that hit theaters annually.

According to Bloomberg Intelligence analyst Geetha Ranganathan, “Amazon.com’s plans to invest $1 billion to produce 12 to 15 films a year for theatrical release is a vote of confidence in the theatrical model,” she said. It could “easily increase revenue by 15% to 20% since Universal and Warner have roughly similar budgets.” This move will eventually bring them up to par with some of the biggest film studios in the industry. The source also states that they’ll be ramping up slowly, so it may be a year or two before we see Amazon Studios start releasing movies at a rate of about a month or so.

The studio is not entirely unfamiliar with theatrical releases, having embraced a more traditional practice of buying films at the Sundance Film Festival and having them released theatrically. The method got them some attention with critical favorites The Big Sick and Manchester by the Sea.



Source link

Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %

Average Rating

5 Star
0%
4 Star
0%
3 Star
0%
2 Star
0%
1 Star
0%

Leave a Reply

Your email address will not be published.