Amazon – City News And Talk

Mar

27

2022

MGM is now owned by Amazon

BusinessAmazon, Business, MGMStudios, PrimeVideo

JACLYN DIAZ | NPR.OrgTroy Warren for CNT #BusinessAmazon's nearly $8.5 billion deal to purchase the film and television studio MGM is official. The two companies announced Wednesday that MGM is now a part of Prime Video and Amazon Studios — cementing the merger that was first announced last May.This is the second-largest acquisition for Amazon after purchasing Whole Foods. The purchase of the movie and TV studio behind iconic films like the James Bond franchise, Rocky, The Silence of the Lambs and Legally Blonde is just the latest in big-name media and streaming-service mergers.Last year, AT&T announced a merger of…

Feb

07

2022

By Troy Warren

Amazon to Raise Price of Prime Membership

BusinessAmazon, Business

BY ALEX WEPRIN | HollywoodReporter.ComTroy Warren for CNT #BusinessThe price of an annual Amazon Prime membership will jump to $139 in the coming weeks.As part of its fourth-quarter earnings report, Amazon announced that it would raise the price of Amazon Prime memberships for the first time in four years, citing investment in the company’s entertainment offerings, and its exclusive deal with the NFL to stream Thursday Night Football beginning next season, as among the reasons for the price hike.The company said that the price of its annual membership will rise by $20 to $139, while monthly memberships will rise by…

Feb

05

2022

By Troy Warren

Amazon Spent $13B on Video, Music Content in 2021

Digital, Editors PicksAmazon, Digital, EditorsPicks

BY ALEX WEPRIN | HollywoodReporter.ComTroy Warren for CNT #Digital #EditorsPicksThe cash was spent on original shows for Prime Video and for paying musicians through Amazon Music.As the streaming video wars heat up, the amount of cash the major players spend on content is rising accordingly.According to its annual report filed Friday morning, Amazon spent $13 billion on video and music content in 2021, a $2 billion increase from 2020 when it spent $11 billion on content.“Total video and music expense includes licensing and production costs associated with content offered within Amazon Prime memberships, and costs associated with digital subscriptions and…

Oct

31

2021

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By Troy Warren

Amazon Misses Earnings Estimates as It Grapples With Supply Chain Issues, Labor Challenges

BusinessAmazon, Business

BY ALEX WEPRIN | HollywoodReporter.Com Troy Warren for CNT #Business Profits were nearly cut in half as the company responds to logistics and hiring challenges. Amazon missed Wall Street targets in income and earnings per share, with the reverberations from the pandemic continuing to impact the company in good ways and bad. On the one hand, net sales increased 15 percent to more than $110 billion as demand for goods continues to surge, but operating income fell to $4.9 billion from $6.2 billion a year earlier, and net income fell by nearly half to $3.2 billion as the company poured cash into…

Aug

18

2021

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By Troy Warren

People now spend more at Amazon than at Walmart

Business, Editors Picks, In The NewsAmazon, Business, EditorsPicks

By Karen Weise - The New York Times Michael Corkery - The New York Times Troy Warren for CNT #Business SEATTLE — Amazon has eclipsed Walmart to become the world’s largest retail seller outside China, according to corporate and industry data, a milestone in the shift from brick-and-mortar to online shopping that has changed how people buy everything from Teddy Grahams to teddy bears. Propelled in part by surging demand during the pandemic, people spent more than $610 billion on Amazon over the 12 months ending in June, according to Wall Street estimates compiled by the financial research firm FactSet. Walmart on Tuesday…

Aug

01

2021

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By Troy Warren

Amazon Hits $7.8B in Profit Under New CEO, But Sales Fall Below Expectations

Business, DigitalAmazon

BY J. CLARA CHAN | HollywoodReporter.Com Troy Warren for CNT Net income increased 50 percent in Q2 for the company, now led by CEO Andy Jassy, but sales fell below Wall Street expectations. Amazon reported $7.8 billion in profit during the second quarter, but its sales numbers — $113.1 billion — fell slightly below Wall Street expectations. The Q2 performance represents a 50 percent increase in profit compared to the previous quarter and a 27 percent increase in sales for the company, which is now led by new CEO Andy Jassy. But investors had expected sales for the quarter to surpass $115…

Jul

16

2021

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By Troy Warren