Amazon plans to spend $1 billion yearly to produce and release movies theatrically. The streaming service also produced films like Sea, The Big Sick, Sound of Metal, and many more.
Amazon is planning to commit $1 billion yearly to produce between 12 and 15 movies that will be released in theaters. However, Amazon Studios will release only a few movies compared to what they aim for and increase the number of projects yearly as time progresses.
In March this year, Amazon bought the famed film studio MGM for $8.5 billion. After that deal, Amazon is now the new owner of MGM’s upcoming projects. Similarly, the platform is the owner of the James Bond franchise.
Since Daniel Craig made his last appearance as James Bond in No Time to Die, which was released in 2021, so, Amazon can restart the franchise if they want with a new actor.
Amazon plans to invest $1 billion a year in movies for theaters https://t.co/a0LfWBT1z3
— Bloomberg (@business) November 24, 2022,
MGM was the producer of the best entries of the original James Bond franchise and set a benchmark. But the question remains whether Amazon Studios will maintain the same standard of the franchise.
Because of the COVID-19 pandemic in 2020, the film industry had to undergo some huge losses. But after the announcement of Amazon Studios, it lit the lamp of hope for the film industry and increased the shares of AMC Entertainment Holdings Inc. and Cinemark Holdings Inc. However, Amazon Studios has a long road ahead to bring the drive back to its pre-pandemic state.
Amazon Prime Video is an American subscription video-on-demand over-the-top streaming, and rental service of Amazon offered as a standalone service or as part of Amazon’s Prime subscription.
It was launched on September 7, 2006, as Amazon Unbox in the United States. The service grew with an expanding library and added Prime Video membership upon developing the Prime subscription. The platform was made available for a monthly promotional price of $/€2.99 for the first six months and $/€5.99 after that.
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