Amazon Q1 Profit Falls 37%, CEO Bezos Lauds TV Pilots25 Apr, 2013 By: Erik Gruenwedel
Amazon April 25 reported a 37% drop in first-quarter (ended March 31) net income to $82 million compared to the previous-year period. Net sales increased 22% to $16 billion in part increases in digital media revenue and cloud computing.
Quarterly highlights included new Prime Instant Video license agreements with A+E Networks, CBS, FX, PBS and Scripps, bringing exclusive access to TV 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.
Founder and CEO Jeff Bezos heralded the bow of 14 original comedy and kids pilots as a new way to greenlight TV shows.
The pilots, which feature stars such as John Goodman, Jeffrey Tambor and Bebe Neuwirth, are available exclusively at www.amazonoriginals.com 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, as well as hundreds of other connected devices. Viewer feedback will help determine which pilots Amazon produces into full series.
“The pilots are out in the open where everyone can have a say,” Bezos said in a statement. “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.”