Amazon set to spend $1 billion a year on theatrical movie releases
While the theatre experience was already in danger, everything changed in 2020 following the Covid-19 lockdowns. Streaming films and shows became the most popular viewing experience, and many experts did not expect things to go back to the way they were. However, Amazon is reportedly planning to contribute to the resurgence of movie theatres.
Many directors and artists have repeatedly complained about the streaming model adopted by major studios. Famously, Denis Villeneuve advocated for the return to the theatre before the release of his version of Dune, which he claimed was meant for the big screen.
Villeneuve said (via Collider): “Cinema was born in theatres. The language was created for the big screen. Today these roots have been weakened by the pandemic. I think it is imperative to bring back an equilibrium between the theatrical experience and the streaming services.”
According to a new report, Amazon is set to spend $1 billion a year on 12 to 15 theatrical releases. While the details about the move remain ambiguous at this point, it seems like a logical follow-up to Amazon’s $8.45 billion acquisition of MGM Studios.
Jeffrey Kaufman, chief content officer and senior vice president of film and marketing at Malco Theatres, said (via CNBC): “We certainly applaud content makers when they decide to spend on quality movies. But to date, no streaming company has committed to a robust theatrical distribution model, including Amazon. We would love if any streamer would support the theatrical space with wide quality releases.”
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