Amazon.com is looking to make it big in the movie production business with a promise of producing up to 12 movies annually. The announcement should come as a surprise to investors who have been calling for the company to only focus on the core business as well as generating shareholder value instead of pursuing unproven avenues for growth.
The latest business push seeks to propel Amazon.com from solely being a content distribution entity to a production unit. The released films will be made available on the company’s Prime video service seen as another avenue for competing against Netflix, Inc. in the video streaming business. The gia...
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