The internet and streaming is redefining the movie industry. Refocusing on its film strategy, Amazon is planning to release about 30 original movies every year with budgets ranging from a few million to $50 million or more.
To make up for the rough year at the box office, the company has decided to shake up its movie strategy with a mix of theatrically distributed art house titles and blockbuster swings, along with other movies that will head straight to Prime Video.
At the recent Sundance Film Festival, Amazon Studios spent $47 million to purchase five films including Late Night, Brittany Runs a Marathon and The Report.
“There was such a lull last year through the management change. Now the movie studio is aligned under me, with an aggressive plan moving forward,” Amazon Studios chief Jennifer Salke told Hollywood Reporter in an interview.