The most recent rumors indicate that amazon intends to invest more than $1 billion annually in the creation of motion pictures for theatrical release. amazon plans to produce 12 to 15 movies annually. They also mentioned that amazon will initially only have a few movies in theaters next year before ramping up production. With this approach, amazon hopes to compete on an equal footing with important movie studios like Paramount Pictures.
The movie theater industry will also receive a big boost from this proposal, which has suffered with the introduction of streaming services like Netflix, Dinsey+hotstar, and amazon Prime. With amazon releasing about 24 films year and Netflix releasing close to 100, amazon continues to lag behind Netflix in terms of annual film release. The reports did add that amazon is attempting to increase its investment in original films.
Following the release of this information, shares of theater chains AMC Entertainment Holdings Inc. and Cinemark Holdings Inc. increased by 6% and 9%, respectively. Some of Amazon's indian employees have been asked to quit on their own will and get compensation. This week, amazon laid off roughly 10,000 workers, and more layoffs are anticipated in the coming months. According to sources, a number of indian employees intend to use the Voluntary Separation Program (VSP), which asks them to leave on their own accord as opposed to the company terminating their employment.
The movie theater industry will also receive a big boost from this proposal, which has suffered with the introduction of streaming services like Netflix, Dinsey+hotstar, and amazon Prime. With amazon releasing about 24 films year and Netflix releasing close to 100, amazon continues to lag behind Netflix in terms of annual film release. The reports did add that amazon is attempting to increase its investment in original films.
Following the release of this information, shares of theater chains AMC Entertainment Holdings Inc. and Cinemark Holdings Inc. increased by 6% and 9%, respectively. Some of Amazon's indian employees have been asked to quit on their own will and get compensation. This week, amazon laid off roughly 10,000 workers, and more layoffs are anticipated in the coming months. According to sources, a number of indian employees intend to use the Voluntary Separation Program (VSP), which asks them to leave on their own accord as opposed to the company terminating their employment.
