A new report has revealed that Amazon seriously upped its content spending in 2023. Last year the juggernaut company splashed out $19 billion on TV shows, movies and music. This is an increase of 14% when compared to the $16.6 billion spent in 2022. These figures include spending on licensing and production costs related to Prime Video memberships and costs related to digital subscriptions and renting and buying content.
How does this spend compare to other competitions? Well, Netflix invested $12.2 billion in content for the year and is anticipated to spend $17 billion in 2024. If Amazon continues on a similar trajectory, then it will easily eclipse Netflix's spend for another consecutive year.
Thanks, Variety.