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Amazon's shift from selling CDs and DVDs to offering streaming services allowed it to adapt to changing customer preferences and compete with other industry giants like Apple and Netflix. This move also enabled Amazon to introduce new capabilities. For instance, it started producing original content in partnership with Warner Bros. through Amazon Studios in 2011. This strategy not only diversified Amazon's offerings but also helped convert viewers into shoppers. As Jeff Bezos, the founder of Amazon, stated, winning awards for their original content indirectly boosts their retail business.
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Later, with the introduction of iTunes, Amazon also didn't lag behind. Per Advertising Week 360, once again, following its customers and shifting from selling CDs and DVDs to offering streaming services, Amazon was able to adapt new capabilities and compete with other giants, such as Apple and Netflix. Finally, in 2011, in partnership with Warner Bros., Amazon launched Amazon Studios and began producing original content. Why? Because video content helps Amazon convert viewers into shoppers and as Bezos himself put it, "When we win a Golden Globe, it helps us sell more shoes."
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Be on the forefront of technological shifts with our Digital Transformation presentation. This deck provides common frameworks that can help you embra...
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