On Tuesday, 13th January, 2015, Amazon.com Inc (NASDAQ:AMZN) announced that it was bringing on board the renowned Hollywood director Woody Allen for making his debut on streaming television. Named as ‘Fast Money’, the company claimed to have booked one full season of shows while the 79-year old director himself had the following comment to offer –
“I don’t know how I got into this. I have no ideas, and I’m not sure where to begin.”
In addition to being a bid to survive and beat the competition, this deal also marks a paradigm shift in Amazon.com Inc (NASDAQ:AMZN)’s policy where its studio is concerned. Casting aside the earlier policy to encourage technology and online submission, this is the first time that the company has paired up with a well-known director. ‘Thrilled’ is how the vice-president of studio, Roy Price described it and he went on to say that –
“I had always thought Woody Allen’s characters and comedy would translate beautifully to TV, particularly now with more serialized story lines and openness to nuanced characterization.”
Given the allegations against Woody Allen made by his daughter Dylan Farrow, there is a stream of thought which considers this alliance as being risky for Amazon.com Inc (NASDAQ:AMZN). But Paul Dergarabedian summed up the situation well through his following comment –
“No matter what you think of Woody Allen, his name is iconic and his brand is iconic, and it’s a bold move by Amazon to associate with one of the most iconic filmmakers working today.”
CNBC decided to interpret this move from the investors’ perspective and came to the conclusion that it would probably not change anything at all for the online retail giant. For a company which is able to generate revenue but unable to generate profits, the big question still remains as to where does Amazon.com Inc (NASDAQ:AMZN) plan to acquire finances from. The total cost of this venture is another question which is unclear and hence calls for a question mark.
This article has been written by Vinita Basu.