Amazon has recently made it clear they plan to spend money to help Amazon Prime Video grow. Now they are following through on their plans to spend big to win big with Amazon Prime Video.
Earlier this month Amazon and Netflix battled it out for rights to a new Lord of the Rings show Warner Bros was selling. Amazon ended up winning but paid a pretty penny.
According to reports, Amazon spent $250 million to make sure they got rights to produce a multiseason series about The Lord of the Rings novels by J.R.R. Tolkien.
“The Lord of the Rings is a cultural phenomenon that has captured the imagination of generations of fans through literature and the big screen,” said Sharon Tal Yguado, head of scripted series, Amazon Studios. “We are honored to be working with the Tolkien Estate and Trust, HarperCollins and New Line on this exciting collaboration for television and are thrilled to be taking The Lord of the Rings fans on a new epic journey in Middle Earth.”
Earlier this year it was reported that Jeff Bezos wanted to find Amazon’s own “Game of Thrones”-type show. It is said that Amazon is hoping a major blockbuster hit like “Game of Thrones” will help propel Amazon Prime Video.
Yet Amazon is not the only one spending big. Both Hulu and Netflix have both said they plan to increase their spending in 2018. It is increasingly looking like we are seeing the start of a new spending war for content between the big three streaming services.
In the end the winners will likely be cord cutters as increasingly we will see more high quality shows flood the market.
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