Amazon spent $11 billion on video and music content material final yr
The $11 billion in content material spend in 2020 is a pointy uptick from a yr earlier, when Amazon spent $7.8 billion, in response to the report. Amazon defines video and music bills as any licensing and manufacturing prices, in addition to prices related to digital subscriptions and offered or rented content material.
Amazon has sought to draw customers’ consideration in a sea of rival video and music streaming choices from Netflix, Disney, Apple, Spotify and plenty of others. Over the previous a number of years, it has constructed up a sturdy library of unique and licensed movies, music and podcasts, together with via its acquisition of podcasting start-up Wondery in December.
It shortly ramped up spending on video and music content material in 2020 as customers spent extra time indoors screens amid the coronavirus pandemic. Amazon has additionally pursued extra expensive movie tasks as its profile in Hollywood has risen.
The corporate has lengthy been keen to make large investments on video and music content material as a technique to buoy Prime memberships. On Thursday, CEO Jeff Bezos introduced in his annual shareholders letter that Amazon now has 200 million Prime subscribers, up from 150 million firstly of 2020. Amazon folds its music and video choices into the Prime subscription plan, which prices $119 a yr and contains different perks like free, two-day transport.