Amazon plans shift to live sports for Prime Video profit boost

Amazon's Prime Video is shifting its focus from original TV shows and movies to live sports in a bid to achieve profitability by the end of 2025. This strategic pivot, driven by CEO Andy Jassy, aims to leverage the lucrative advertising opportunities associated with live sports viewership, with Amazon spending approximately $3 billion annually on broadcasting rights for leagues like the NBA and NFL. A significant 11-year deal valued at $77 billion for NBA rights further exemplifies this shift. As a result, Amazon is commissioning fewer film and TV projects, reallocating its $7 billion annual content budget to prioritize live sports. Competitors such as Netflix are also intensifying their focus on live sports content, creating a competitive landscape within the streaming industry. The overall trend indicates a broader industry movement toward real-time content to enhance viewer engagement and ad revenue.