Amazon Studios to cut back on indie films in programming shift [CNBC]
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Source: CNBC
Amazon.com , which has made waves in recent years buying art-house movies at the Sundance Film Festival, is heading to the prestigious event this week with a long-term change in the works: It plans to shift resources from independent films to more commercial projects, people familiar with the matter told Reuters. The move reflects a new phase in the online retailer's entertainment strategy. Initially, Amazon worked on high-brow movies that would win awards, put it on the map in Hollywood and help it attract top talent. Now, Amazon wants programming aimed at a far wider audience as it pursues its central business goal: persuading more people to join its video streaming service and shopping club Prime. The change in the movie strategy parallels a similar shift in Amazon Studios' TV operation, which is also moving to bigger-budget fare. Amazon expects to go after films with budgets in the $50 million range at the expense of indie projects costing around $5 million, one pe
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