The following is the Amazon will invest 11 billion US dollars in streaming media and music in 2020 recommended by recordtrend.com. And this article belongs to the classification: Network entertainment.
According to reports, Amazon disclosed in its annual report released on Thursday that it spent $11 billion on video streaming and music services last year, which also means that Amazon hopes to make a bigger investment in the entertainment of prime members.
The report shows that compared with 2019, the expenditure of $11 billion in 2020 has increased significantly. In 2019, Amazon will spend $7.8 billion on this. Amazon defines video and music expenses as any licensing and production costs, as well as costs associated with digital subscription and selling or leasing content.
At present, many enterprises in the market are providing video and music streaming services, such as Netflix, Disney, apple, spotify and so on. Amazon needs to compete with these enterprises. Over the past few years, the company has built a strong Library of original and licensed videos, music and podcasts, including content from wondery, a podcast start-up they acquired last December.
The company is rapidly increasing its spending on video and music content in 2020, in part because users spend more time at home using electronic devices in the face of an epidemic. With Amazon’s rise in Hollywood, they are still pursuing more expensive film projects.
Amazon has long been willing to invest heavily in video and music content, one of its strategies to attract more premium prime members. Amazon CEO Jeff Bezos announced in his annual shareholder letter on Thursday that Amazon now has 200 million prime users, up from 150 million in early 2020. Amazon has integrated its music and video products into the prime subscription program, which costs $119 a year and includes other privileges such as free, two-day delivery.
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