Amazon could be looking to buying a chain of cinemas.
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“Amazon has already established brick-and-mortar stores selling its products and groceries, and now it apparently wants a slice of the cinema business.
As reported by Bloomberg, Amazon is looking to acquire Landmark Theatres, which claims to be the largest cinema chain dedicated to independent and foreign films, with 52 theatres in 27 markets.
The e-commerce giant is reportedly working with other suitors to buy the chain from Mark Cuban and Todd Wagner-backed Wagner/Cuban Cos. There have been no decisions made, and with talks still to come, it’s not set in stone that a deal will go ahead.
The potential move into brick-and-mortar cinema echoes Amazon’s efforts to look further than its online presence in recent years, as evidenced by its real-life bookstores and its foray into checkout-free grocery shopping, Amazon Go, not to mention its $14 billion acquisition of grocery chain Whole Foods.
But Amazon’s potential entry into physical cinemas could help further sure up the profile of its Amazon Studios films, such as Manchester by the Sea, an Amazon Original which was nominated for an Academy Award for Best Picture in 2017.
Despite the accolades, there is general tension between newfangled streaming services and the film industry. These concerns are primarily directed to the biggest disrupter of them all, Netflix, which is aggressive in its stance to only show its own films on its service.
Steven Spielberg said earlier this year that Netflix films which either don’t show in cinemas, or only for a short time to satisfy movie awards criteria, shouldn’t get accolades like an Oscar.
“Once you commit to a television format, you’re a TV movie. If it’s a good show, deserve an Emmy, but not an Oscar,” Spielberg told ITV News.
“I don’t believe films that are just given token qualifications in a couple of theaters for less than a week should qualify for the Academy Award nomination.”
Although Amazon is also a disruptor, it sticks to convention when it comes to distribution. It runs movies in cinemas for months before they sit on Prime Video, and is public about ensuring its films screen in theaters.”
Read more: https://mashable.com/2018/08/16/amazon-cinema-landmark-theatres/