Amazon Studios is switching up its game plan: Indie movies are out, bigger projects are in.
The tech behemoth will be aiming for more “commercial” films that can appeal to large audiences, according to a new report from Reuters citing unnamed sources who said that the company would target movies with budgets closer to $50 million, rather than $5 million as it has in recent years.
Amazon Studios did not immediately return TheWrap’s request for comment.
The shift in strategy comes on the eve of the Sundance Film Festival, a place where Amazon Studios has made waves in the past for its deals; two years ago, the studio shelled out $10 million for the domestic rights to “Manchester by the Sea.”
It continued the trend last year, making five high-profile buys of Sundance premieres, including $6 million for a Grateful Dead documentary and another $12 million for “The Big Sick,” with the Judd Apatow-produced comedy grossing an impressive $42.8 million at the domestic box office.
The company also bought the prison drama “Crown Heights,” the dramedy “Landline,” and the ISIS documentary “City of Ghosts.”
Targeting films with broad appeal would also help Amazon drive more Prime memberships, its paid shopping service with perks, Reuters noted. The plan is to use its studio wing to funnel customers back into the Amazon ecosystem, where they’ll buy more gadgets, books and toilet paper.
The strategic shift also follows the ouster of Roy Price, who had led the studio since its inception in 2010 but resigned in October following accusations of sexual misconduct. His replacement has not been named.
According to the report, Amazon has no current plans to move into full “blockbuster territory” in terms of theatrical release. But the company’s TV division has stepped up its spending on a higher-profile projects, including a $250 million deal for a “Lord of the Rings” series.
The report adds Amazon founder and CEO Jeff Bezos believes it will be “business as usual” for its studio at Sundance, with the company aiming for multi-million dollar deals with movies poised for theatrical releases.
Here Are the World's 10 Richest People, From Jeff Bezos to Charles Koch
Amazon founder and CEO Jeff Bezos shook up the rankings of the world's wealthiest on Thursday, narrowly surpassing Microsoft co-founder Bill Gates. Scroll through to for a countdown listing Forbes' top list of billionaires.
One half of the Koch brothers, Koch is chairman and CEO to Koch Industries, the second-largest private company in the United States. He splits control of the company with brother David.
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9. Bernard Arnault
Net worth: $53.2 billion
The CEO of LVMH, Arnault oversees 70 luxe retail brands, including Dom Perignon, Sephora, Louis Vuitton, Bulgari and Tag Huer, not to mention 3,900 other retailers. (Yes, that's Karl Lagerfeld he's pictured with here).
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8. Michael Bloomberg
Net worth: $53.3 billion
Bloomberg still retains an 88% stake in Bloomberg LP, the media and financial informations company he founded. He's donated more than $4 billion towards gun control and climate change.
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7. Larry Ellison
Net worth: $61.3 billion
The Oracle co-founder is another college dropout. He got his start building databases for the CIA and now still serves at Oracle as chairman and chief technology officer.
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6. Carlos Slim Helu
Net worth: $68.6 billion
Helu heads Mexico's largest mobile telecom firm, America Movil. He's also involved in real estate, construction consumer goods and mining companies, making him Mexico's richest man.
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5. Mark Zuckerburg
Net worth: $70.2 billion
For a Harvard dropout, the Facebook founder and CEO is doing pretty well. He and his wife have pledged to give away 99% of their Facebook stake over their lifetimes.
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4. Warren Buffet
Net worth: $74.3 billion
One of Gates' good friends, Buffet is known as one of the most successful investors ever. Berkshire Hathaway owns more than 60 companies.
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3. Amancio Ortega
Net worth: $83.5 billion
Ortega co-founded the parent company to popular fast-fashion retailer Zara, Inditex. He's the wealthiest man in Europe.
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2. Bill Gates
Net worth: $89.7 billion
The Microsoft cofounder co-chairs the Bill and Melinda Gates Foundation with his wife; it's the world's largest charitable foundation.
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1. Jeff Bezos
Net worth: $90 billion
Bezos overtook Microsoft mogul Bill Gates on Thursday. He's the founder and CEO of Amazon, which passed $500 billion market value this week for the first time.
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The Amazon founder just recently passed Bill Gates. See who else is on the list
Amazon founder and CEO Jeff Bezos shook up the rankings of the world's wealthiest on Thursday, narrowly surpassing Microsoft co-founder Bill Gates. Scroll through to for a countdown listing Forbes' top list of billionaires.