Amazon Plans To Spend $1 Billion Annually Producing Theatrical Films

Amazon Plans To Spend $1 Billion Annually Producing Theatrical Films

Amazon Studios is committing to spend $1 billion a year to produce films that will receive a theatrical release. The retail giant and its streaming service Prime Video have produced several films like Manchester by the Sea, The Big Sick, and Sound of Metal that received both critical acclaim and Academy Awards. While the streaming service initially struggled to compete with Netflix when it came to producing original series, it succeeded at bringing its film releases to the big screen, with Manchester by the Sea running beyond expectations to gross over $79 million against its $9 million production budget. The studio has since helped produce the anthological Welcome to the Blumhouse film series and acquiring a number of tentpole projects, including Coming 2 America, The Tomorrow War and Without Remorse.

Amazon Studios announces plans to begin spending $1 billion annually to produce theatrical films, looking for an output of 12-15 movies a year.

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