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Amazon Studios to Release Next Original Movie Paterson

Amazon.com Inc.AMZN recently announced that Amazon Studios division will release the next original movie Paterson that was shot in New Jersey and New York.

Amazon Studios' first movie, Chi-Raq , was directed by Spike Lee and focused on violence in the inner-city of Chicago.

Amazon Studios is recognized for television series such as multi-Golden Globe winner Transparent and Annie-nominated Mozart in the Jungle . Other hits include children's TV series namely Annedroids , Gortimer Gibbon's Life on Normal Street , Wishenpoof! , Annie , and multi-Emmy Award-winning Tumble Leaf .

More about Paterson

Paterson has been written and directed by Jim Jarmusch, produced by Joshua Astrachan and Carter Logan, and executive produced by K5's Oliver Simon, Daniel Baur, Le Pacte's Jean LaBadie and Ron Bozman. The star cast includes Adam Driver and Golshifteh Farahani.

The movie focuses on the nuances of daily life of a bus driver, Paterson, who lives a simple life and is married to a highly ambitious woman.

Though the exact date has not been specified, the movie will debut exclusively in theaters this year.

Amazon Original Movies

In Jan 2015, Amazon Studios announced its initiative to produce and acquire original movies for theatrical release and distribution to Prime members, so that they do not need to go to the theaters. The company plans to produce around 12 movies a year.

Amazon stated that the project will be led by Ted Hope, co-founder of the production company, Good Machine. Paterson will be available on Prime Instant Video in the U.S. in a couple of months after the theatrical release.

The budgets of these films will range between $5 million and $25 million - rather humble compared with Hollywood blockbusters with stupendous budgets of $100 million and more.

Looking Ahead

Amazon has expanded beyond product searches and shopping to explore new areas like mobile technology, by developing the popular Kindle range and the not-so-impressive Fire Phone. It has also made its way into fast delivery space, including drone delivery.

Amazon is also expanding its content creation spaces with these original movies. While the company is trying to become a leader in the original content business, the short premier timing promise may be a new way to lure subscribers into its fold.

Amazon currently sports a Zacks Rank #1 (Strong Buy). Other well-ranked stocks in the industry are Mercadolibre, Inc MELI , Blackbaud Inc. BLKB and Groupon, Inc. GRPN . While Mercadolibre and Blackbaud have the same Zacks Rank as Amazon, Groupon carries a Zacks Rank #2 (Buy).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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