Exhibition stocks were up today on news from Bloomberg that Amazon is going to commit a reported $1 billion to theatrical releases annually.
We hear that such a plan is truly early days –read Amazon doesn’t have an executive yet to lead MGM theatrical. Capisce? Since Amazon bought MGM they’ve been trying to figure out how to put the genie back in the bottle: Amazon committed heavily to theatrical with reported box office numbers and wide releases during the Jason Ropell-Bob Berney-Ted Hope administration; sometimes releasing pics through distribution partners like Lionsgate, STX, Roadside Attractions and Bleecker Street before bringing it in-house under IFC day-and-date distribution czar Mark Boxer.
When Jen Salke took charge of the studio, she pivoted to a Netflix- like theatrical-streaming model with limited theatrical releases over a shorter or day-and-date window synced with a Prime Video drop.
Since snapping up MGM, natch, a return to theatrical has been on the mindsets of the Amazon bosses. They’re in the process of re-firming contracts with MGM theatrical marketing and distribution.Read more on deadline.com