Amazon Is Going To Make Movies

Amazon intends to make full-length films and release them in movie theatres, the company announced on Monday.

The technology giant says it intends to produce 12 movies a year, which will enjoy traditional theatrical releases, before becoming available to stream on Amazon Prime 4 to 8 weeks later. Amazon Studios, the company's media production arm, has already enjoyed multiple successes, including the Golden Globe-winning "Transparent." But this is the company's first foray into feature films.

The company says the service, called Amazon Original Movies," will focus on unique stories, voices, and characters from top and up-and-coming creators." It has yet to name any planned features.

"Our goal is to create close to twelve movies a year with production starting this year," VP of Amazon Studios Roy Price said in a statement. ""Not only will we bring Prime Instant Video customers exciting, unique, and exclusive films soon after a movie's theatrical run, but we hope this program will also benefit filmmakers, who too often struggle to mount fresh and daring stories that deserve an audience."

The project will be spearheaded by Ted Hope, whose production company Good Machine was responsible for "Crouching Tiger, Hidden Dragon" and "Eat Drink Man Woman."

"Audiences already recognise that Amazon has raised the bar with productions in the episodic realm, tackling bold material in unique ways and collaborating with top talent, both established and emerging," said Hope. "To help carry the torch into the feature film world for such an innovative company is a tremendous opportunity and responsibility,"

Disclosure: Jeff Bezos is an investor in Business Insider through his personal investment company Bezos Expeditions.