Online TV adds to Amazon streams of revenue
Parent Category: | 26-04-2013
Digital products, and in particularly TV service, are rapidly gaining importance at online retail giant Amazon as it revealed its first quarter financial results.
Overall, for the quarter ended 31 March 2013, Amazon reported that even though net sales increased 22% to $16.07 billion in the first quarter, compared with the quarter in the previous year yet despite the increased amount of cash into the business, net income decreased 37% to $82 million.
Very significantly, pinpointing the highlights of the quarter, the company chose to note the contribution that its online video and online TV lines brought to the business. Top of this list was A+E Networks, CBS Corporation, FX, PBS Distribution and Scripps Networks Interactive, bringing to the Prime Instant Video service exclusive access to series such as Downton Abbey, Justified and Under the Dome as well as shows from HGTV, DIY Network, Food Network, Cooking Channel and Travel Channel.
It also stressed how Amazon Studios, the original film and series production arm of Amazon.com, debuted 14 original comedy and kids pilots which are available exclusively and on the Amazon Instant Video app for Kindle Fire HD, Kindle Fire, iPad, iPhone, iPod touch, Roku, Xbox 360, PlayStation 3, Wii and Wii U r connected devices.
Moreover, as he made official comment on the quarter, Amazon founder and CEO Jeff Bezos said: “Amazon Studios is working on a new way to greenlight TV shows. The pilots are out in the open where everyone can have a say…I have my personal picks and so do members of the Amazon Studios team, but the exciting thing about our approach is that our opinions don’t matter. Our customers will determine what goes into full-season production. We hope Amazon Originals can become yet another way for us to create value for Prime members.”