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Amazon is going Hollywood. The company said Monday that it will produce and acquire original movies for release in theaters and through its premium streaming video service. Amazon Studios — the unit behind the Golden Globe-winning comedy series "Transparent" — plans to premiere flicks on Prime Instant Video just "4 to 8 weeks" after their theatrical debut, the company said in a press release.
The company plans to "create close to 12 movies a year," said Roy Price, the vice president of Amazon Studios. Amazon said creative development on the movies will be led by veteran independent film producer Ted Hope. The move ramps up the competition between Amazon and Netflix, which has already launched an original movies unit and plans to debut a sequel to Ang Lee's "Crouching Tiger, Hidden Dragon" later this year.