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Cinema Stocks Surge Amid Report Amazon Plans $1B Theatrical Push - Hollywood Reporter

Cinema Stocks Surge Amid Report Amazon Plans $1B Theatrical Push - Hollywood Reporter

Cinema Stocks Surge Amid Report Amazon Plans $1B Theatrical Push - Hollywood Reporter
Nov 24, 2022 49 secs

Cinemas stocks got a boost Wednesday after a report that online retailer Amazon plans to spend $1 billion a year on theatrical film releases.

Bloomberg, citing unnamed sources, reported Amazon plans to release 12 to 15 movies in theaters, with the push into the local multiplex getting underway in 2023.

Cinema stocks surged on news of the theatrical movie push by Amazon

Plans for a renewed Amazon theatrical movie effort recalls Amazon Studios’ push nearly a decade ago to get into the movie business under a leadership regime led at the time by vp Roy Price and creative development head Ted Hope

But after an early backlash by exhibitors to Netflix and other online video giants making brief releases of their film titles in theaters before shifting to streaming services, major cinema chains are stepping up negotiations with streamers as they embrace theatrical windows

Apple TV+ and Amazon Prime Video have used movie theaters to market their upcoming movie streaming releases, and exhibitors are looking for Netflix to increasingly follow their lead


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