Amazon and Netflix lock horns for blockbuster Hollywood Movies
As the popularity of online streaming services is going up, Streaming giants like Amazon and Netflix lock horns for rights of blockbuster Hollywood Movies.
Sony Pictures and Universal Pictures, Hollywood’s pillars, are all set to vend licenses of their next pack of movies. The pack starring films that are set to be released in 2022. The deal is worth generating an annual turnover of 250$ million, or in some cases more, to studios.
Negotiations are undergoing between production studios and popular streaming services including Netflix, Amazon, and HBO. Many other streaming services are also bidding for the rights. The winner to these negotiations may get rights up to 18 months while the rest, if manage to get rights, for only 9 months.
Things are more complicated as media giants have their own streaming services. Some streaming services are also offering these studios to produce original movies just for their services.
Previously, Netflix has the rights to show blockbuster movies like Avengers: Infinity War” and “Incredibles “Moana’ for two years. Eventually, Disney refused to renew their rights because they wanted to invest in their own streaming services.
Netflix still has rights to many movies from various picture studios including Universal and Sony Pictures, both studios have yet to decide whether to continue their license.
Similarly, Amazon has been streaming many blockbusters including avengers, inception, and many more.
The battle between these two streaming companies has heated up, biding the prices of stand-up-comedy shows, TV shows, and films with crown film producer companies.