Amazon.com Inc. ( AMZN ) announced that
its film production division, Amazon Studios plans to add a new
comedy show to its production slate.
The show entitled "Betas" will be produced by Michael Lehman,
Alan Freedland, Alan Cohen and Michael London. The story is about
four computer geeks and their quest for nerd fame as they attempt
to crack the ultimate code.
The new pilot will be added to the 13 pilots, which include six
original children shows and seven comedy shows that are already in
production. Management stated that all 14 pilots will be available
on the Amazon Instant Video streaming service where viewers can
watch them free of cost. Amazon Studios will take a call on which
shows to produce going forward depending on viewer feedback.
The completed pilots will be exclusively available to Prime
members through Prime Instant Video and Lovefilm in the U.K for no
additional cost. Lovefilm is Amazon's European DVD and streaming
movie service, which has almost 2 million subscribers.
Many technology companies are getting into content production,
including Hulu and Netflix ( NFLX ), in order to
reduce their reliance on traditional media companies. Amazon has
been working on this for a while now and we believe these efforts
will bring in millions of dollars and help the company to increase
its market share.
Besides developing its own original series, Amazon has also been
beefing up its Prime Instant Video service through major licensing
agreements. The company recently acquired exclusive streaming
rights to the PBS hit drama "Downton Abbey," FX's Justified and the
upcoming CBS show "Under the Dome."
Amazon is one of the leading players in an extremely
fast-growing market. In the fourth quarter, Amazon's revenues of
$21.3 billion were up sequentially as well as from the year-ago
quarter. Management attributed the increase in revenues to the
growing consumption of digital content across different categories
owing to the advantageous value proposition Amazon was able to
provide to its customers.
Amazon currently retains a Zacks Rank #3 (Hold). Other stocks
that have been performing well and are worth considering include
Intersil Corp. ( ISIL ) and
KLA-Tencor ( KLAC ), all carrying a
Zacks Rank #2 (Buy).AMAZON.COM INC (AMZN): Free Stock Analysis
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