Netflix Inc. is the market leader in the streaming industry, which is constantly looking for opportunities to ‘cut the cords’ of the viewers. Hence, ever since its inception, the company is making the trend of internet TV common amongst viewers. Undoubtedly, it is one of the best stocks in the market, which will guarantee investors a better return.
The online streaming giant was famous for owning rights of the best shows to offer to its customers on the platform. Now it planned to change its strategy by owning and producing original programming in the coming times.
Analysts were quite content with the decision that the streaming service will be looking forward to make its own movies and TV shows for the viewers, along with getting exclusive rights of other shows as well. Now Amazon seems to be following the footsteps of Netflix, which had an edge over its peers and competitors in the market from making its own movies and TV shows, but Amazon Studies will be entering the same business.
Amazon Studios announced a new project, which will involve Kevin Spacey. Variety reported, “The company is finalizing a deal to pick up Elvis & Nixon, Liza Johnson's film that features Spacey as the titular president, and Michael Shannon (Boardwalk Empire, Man of Steel) as the side burned singer. The two icons met somewhat infamously at the White House in 1970.”
The retail giant will be ‘holding back’ rather than threatening the cinema owners to release the film online and in the cinemas at the very same time. The Verge reported that Amazon Studios will be collaborating with Bleecker Street, a New York based distribution company. Hence, through them, it will be releasing the film in the cinemas first and then it will come on Amazon’s platform. Amazon has played smartly after noticing issues that Netflix faced when it started.
According to a source familiar to the matter, “’Elvis & Nixon’ tells the story of the infamous meeting between Elvis Presley (Michael Shannon) and Richard Nixon (Kevin Spacey) in 1970. Several buyers had expressed interest in the project (based on early footage alone), including Lionsgate and Bleecker Street, but Amazon was able to land it. The deal has been in the works for more than a month, with the price-tag climbing over $3 million.”
Amazon is all set to double the investment on its streaming service in order to take on the market leaders and keep up with them.