Amazon’s Commitment to Hollywood Is Serious, CEO Says: ‘We’re in It for the Long Haul’

thewrap.com:

Amazon CEO and president Andy Jassy voiced his and the tech giant’s commitment to the entertainment business and streaming on Amazon Prime Video by saying that they are in it “for the long haul.” Vox Media’s Kara Swisher asked Jassy at Wednesday’s Code Conference in Los Angeles just how serious Amazon was about their streaming ambitions, relaying an anecdote from “Transparent” creator Joey Soloway that Soloway thought they were more into selling “toilet paper” than they were making TV shows and movies.

Jassy tried to put that idea to rest on Wednesday when Swisher asked just how serious is Amazon?“Serious. We’re in it for the long haul.

We’re really excited about it, we’re really committed to it,” Jassy said. “We’re also very committed and focused on building the best selection of streaming items that people can consume.”Jassy cited the recent purchase of MGM for $8.45 billion as one way in which they’re aiming to compete and how they do now have a library of IP to fall back on, but he also talked about the bigger picture vision of where he views the entertainment business and Amazon’s place in it going. “I think most media is going to be streaming,” Jassy said. “TV, film, audio, music, even I think over time gaming.

Most entertainment is going to be streaming, and we’ve invested a lot of resources and time in streaming,” he said. “It makes our Prime subscription even more compelling…and a very significant value proposition for customers.” But Jassy also said he envisioned Amazon having a combination of both original content and other channels from third-party media companies, just as other media conglomerates have done.