In the summer of 2022, a year after becoming CEO of Amazon, Andy Jassy wanted the executives running the company’s Prime Video business to tell him why it was spending billions of dollars a year on expensive shows such as “Lord of the Rings: The Rings of Power” and “Citadel.

Amazon’s Prime Video has shifted its strategic focus towards live sports and away from original television shows and movies, seeking to meet internal corporate profit targets, The Information reported on Friday.

Amazon's reported move marks a pivotal moment for the tech giant as it looks beyond its traditional focus on original content for generating revenue. Amazon CEO Andy Jassy aims to make Prime Video profitable by the end of 2025,

Harry Potter publisher Bloomsbury Publishing on Friday renewed its supply agreement with Amazon, after months of stalled discussions had jeopardised an essential distribution line for the publisher. Concerns around a major deal with Amazon UK falling through grew after the retailer said that it had failed to negotiate new terms for a contract,

Bloomsbury shares jumped on Friday after the Harry Potter publisher secured a last-minute deal to renew its supply agreement with Amazon.