UPDATED with content spend stats from annual report: Giant Amazon said its total expenses for video and music came to $16.6 billion last year, up from $13 billion in 2021. Video and music expense includes licensing and production costs associated with content offered within Amazon Prime memberships, and costs associated with digital subscriptions and sold or rented content, according to the company’s latest annual report that followed fourth quarter financials yesterday. On an earnings call Thursday, CFO Brian Olsavsky noted that Amazon spent $7 billion on originals, live sports and licensed content in 2022, up from $5 billion the year before. It’s unclear if those figures include all worldwide video content, which is increasingly central to Amazon’s strategy in driving membership for Prime, the biggest loyalty program in the world and the beating heart of the company. Amazon (which acquired MGM last year for $8.5 billion in cash) carefully evaluates its return on … [Read more...] about Amazon Praises Video As Key Driver Of Prime; 2022 Content Spend, Including Music, Hit $16.6 Billion
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Michael Disco Joins Russo Bros’ AGBO As President Of Film
EXCLUSIVE : AGBO , the film and TV company founded by Anthony and Joe Russo , has a new President of Film. Michael Disco , fresh from producing superhero film The Flash , has joined the company in that role. He will oversee the creative and business strategy for AGBO’s film activities. He reports to AGBO’s Chief Creative Officer Angela Russo-Otstot, who was promoted to that role in November. It comes eight months after the company expanded its senior team with hires including Scott Nemes as President of Television. AGBO is behind films including Oscar nominated Everything Everywhere All At Once and Ryan Gosling-fronted The Gray Man as well as the upcoming Millie Bobby Brown and Chris Pratt film The Electric State. For the last couple of years, Disco has been running his own production banner The Disco Factory, in addition to producing The Flash , alongside the Muschietti siblings. Before that he had a 20-year run at New Line, including as EVP, … [Read more...] about Michael Disco Joins Russo Bros’ AGBO As President Of Film