Amazon’s Seem of Steel, starring Riz Ahmed.
Amazon spent $11 billion on information for its streaming video clip and new music products and services final calendar year, the business disclosed Thursday in its annual report, the newest indicator of the firm’s willingness to commit heavily in entertaining Prime members.
The $11 billion in content material expend in 2020 is a sharp uptick from a calendar year before, when Amazon invested $7.8 billion, according to the report. Amazon defines movie and music expenses as any licensing and generation expenditures, as perfectly as costs affiliated with electronic subscriptions and marketed or rented material.
Amazon has sought to attract consumers’ notice in a sea of rival movie and songs streaming offerings from Netflix, Disney, Apple, Spotify and many some others. About the past numerous yrs, it has designed up a strong library of original and accredited movies, audio and podcasts, like by way of its acquisition of podcasting commence-up Wondery in December.
It promptly ramped up investing on online video and music written content in 2020 as buyers used additional time indoors on the lookout at screens amid the coronavirus pandemic. Amazon has also pursued far more high-priced film tasks as its profile in Hollywood has risen.
The firm has long been keen to make significant investments on movie and audio content material as a tactic to buoy Primary memberships. On Thursday, CEO Jeff Bezos introduced in his yearly shareholders letter that Amazon now has 200 million Prime subscribers, up from 150 million at the commencing of 2020. Amazon folds its music and video clip offerings into the Primary membership program, which expenditures $119 a 12 months and involves other perks like free of charge, two-day delivery.