Amazon is making a major push to the big screen. Committing to releasing around 15 movies a year in theaters before they hit Prime Video, Amazon is putting itself in competition with major movie studios, especially following its $8.5B acquisition of MGM in 2022. It’s not a complete pivot, as the streaming giant has released a few films theatrically over the years, but was never clear on how long those movies would stay in theaters before leaving for Prime. Now, the company is rolling out a mix of original films that will stay in theaters for 45 days before being able to stream and rebooting well-known MGM titles like The Thomas Crown Affair and Masters of the Universe. Plus, Amazon is expecting to simultaneously produce another dozen films just for Prime Video, so they’re not losing focus on streaming by any means. Theater owners see Amazon’s foray into the movie businesses as a much-needed boost, especially as YPulse data shows that young consumers are finally heading back to the theaters at pre-pandemic levels. (NYT)
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