Amazon Reportedly Plans to Burn $1 Billion on Over a Dozen Theatrical Movies Every Year

Amazon must be feel its cash burn a mess in its voluminous pockets even as the tech downturn has pummeled$1 trillion from its stock value . And even though the company is potentially kickingthousands of employees to the curbover the next few months , the technical school and tocopherol - commerce giant desire to see its name up in lights as the projectors roll .

Bloombergsays they talked with anonymous sources who say they ’re aware of Amazon ’s planned strategy . That alleged scheme includes progress to between 12 to 15 theatrically unfreeze movies next class . Such an endeavor would necessitate more than $ 1 billion a year . As per Bloomberg ’s reporting , Amazon will look toward a small theatrical tone ending agenda next year , but if that proves successful they would ramp it up over time .

Essentially , Amazon want to leap from the choppy waters that is digital streaming and headlong into the typhoon of full scale - theatrical movie product companies , which is the opposite charge that other big budget output company have been heading . Paramount , Disney and more have their own streaming networks , but those services have been gettingmore expensivefor consumers as of late .

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Amazon gain MGM in 2021 for a trivial under$9 billion , something that U.S. regulators havehad a keen pastime in since . That acquisition does come with a good bit of major title like James Bond , though Bloomberg noted the company is still expect for somebody to channelize the film business up after MGM ’s top two executive left last yr .

Amazon reportedlyspent around $ 715 millionproducing Lord of the Rings : Rings of Power , making it one of the most expensive show ever bring on , and is three quarters of what Amazon would reportedly spend every year . Several years ago , AmazonacquiredThe Big Sick for $ 12 million and Manchester by the Sea for$10 million , then helped give them theatrical handout . Those films did havemoderately positive returnscompared to their production cost and sale , though they sure enough were n’t blockbusters .

Movie - goers have been comparatively slow to return to theaters after they welcomed guest back following pandemic - link closures . Bloomberg says U.S. ticket sales event are down more than 33 % from 2019 . Perhaps people got too comfy being able to watch motion-picture show from the comforts of their own house . If Amazon ’s allege plans to hit the big screen come to realization , it ’ll be interesting to see whether its movies draw Top Gun : Maverick - like succeeder to get multitude to result their dwelling , or whether a lot of folks will continue to await for the movies to come to them .

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