Amazon Wants to Release 15 Movies Theatrically Per Year

By Nicole Drum

Amazon is looking to make big investments in movies for theatrical release. According to a report from Bloomberg, Amazon plans to spend over $1 billion a year on films intended to be released in theaters. Specifically, the report indicates that the company is shooting to make 12 to 15 films each year that will be released in movie theaters, marking the largest theatrical commitment by a streaming company. Per the report, the actual strategy has not been finalized and output of films intended for theatrical release will grow over time, starting with a smaller number of films released to theaters next year and building from there.

Amazon looking to theaters for the release of films marks a bit of a deviation from most streaming services, including Netflix, who are releasing films on fewer theatrical screens and for less time — an example of that being the Knives Out sequel, Glass Onion, which is being released in theaters for just one week before going to stream on Netflix.

Amazon's plans are likely to be welcome news for theater operators. Shares of AMC and Cinemark both rose following news of Amazon's plans. Theaters have seen a decline in ticket sales in the United States in recent years, due largely to the pandemic which shuttered theaters for nearly all of 2020 and saw a shift in movie release strategy to streaming — a trend that has continued as major movie studios continue to make original films for release on their associated streaming platforms.

Earlier this year, Amazon Studios chief Jennifer Salke spoke about the company's film and theatrical strategy.

"You're going to see us investing, as a company, even more in film," Salke told Variety. "You'll see more investment and more expansive opportunities for film. You'll see more fluidity between theatrical and streaming options for films. And then there's a TV team that's still working on great shows that exist outside our company. And we're looking forward to more collaboration as time goes on."

"With all the IP and our growing strategy around film, there's going to be more opportunity," Salke added.

"[Box office] definitely matters," Salke said. "Our goal is to make some big films that will have value across the spectrum in theatrical and then to streaming. The goal is to make hit movies. We all know that's not easy. As we build out the larger businesses around us and all the things we're doing in ad-supported streaming, we're just thinking about more options for customers. Nothing rings the bell louder than big originals that are global. So, you're going to see us invest more on the film side and the television side."

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