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Amazon (AMZN) Boosts Prospects in Audiobook Space With New Deal
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Amazon (AMZN - Free Report) continues to make strong efforts to reap benefits from all possible industries, such as retail, cloud, healthcare, smart devices as well as audiobooks, among others on the back of its robust strategies. These have been aiding the company's financial performance so far, which, in turn, is instilling investors' optimism in the stock.
Shares of AMZN have risen 82.7% on a year-to-date basis compared with the industry’s growth of 55.6%.
The latest collaboration of Amazon’s Audible with Regal, a Cineworld subsidiary operating theatre circuits in the United States, testifies to the former’s stance to strengthen its audiobook content.
The deal summarizes the joint efforts of Audible and Regal to bring movies and audiobooks together, which will encourage audiobook listeners to watch literary-based films in theaters and movie enthusiasts to listen to the audiobooks of the same titles before their release in the theatres.
Hence, the deal seems to be a win-win situation for both companies as it will enable them to entice their audiences with such an interesting feature.
On the back of this deal, Audible made the first chapter of an audiobook titled The Boys in the Boat, a film produced by Amazon MGM Studios, available for free before it got released in the theatres.
The film hit the theatres this Christmas and was the first result of this joint effort.
Audible offered links to purchase the film tickets while playing the audiobook. Along with Regal, it also offered a two-month extended free trial of Audible Premium Plus to the Regal Crown Club members.
The audiobook-to-screen titles initiative, with the support of Regal and Amazon MGM Studios, is expected to aid Audible in delivering enhanced listening and storytelling experiences to the listeners.
Wrapping Up
The latest move brings multiple engagement opportunities with Amazon MGM and other studios for Audible, which, in turn, will strengthen its content library.
This will aid Amazon to capitalize on the growing demand for audiobooks worldwide.
Per a report from Grand View Research, the global audiobooks market is anticipated to witness a CAGR of 26.3% between 2023 and 2030.
Growing prospects in this booming market are expected to aid Amazon in winning investors’ confidence in the days ahead.
Zacks Rank & Other Stocks to Consider
Currently, Amazon sports a Zacks Rank #1 (Strong Buy).
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Amazon (AMZN) Boosts Prospects in Audiobook Space With New Deal
Amazon (AMZN - Free Report) continues to make strong efforts to reap benefits from all possible industries, such as retail, cloud, healthcare, smart devices as well as audiobooks, among others on the back of its robust strategies. These have been aiding the company's financial performance so far, which, in turn, is instilling investors' optimism in the stock.
Shares of AMZN have risen 82.7% on a year-to-date basis compared with the industry’s growth of 55.6%.
The latest collaboration of Amazon’s Audible with Regal, a Cineworld subsidiary operating theatre circuits in the United States, testifies to the former’s stance to strengthen its audiobook content.
The deal summarizes the joint efforts of Audible and Regal to bring movies and audiobooks together, which will encourage audiobook listeners to watch literary-based films in theaters and movie enthusiasts to listen to the audiobooks of the same titles before their release in the theatres.
Hence, the deal seems to be a win-win situation for both companies as it will enable them to entice their audiences with such an interesting feature.
Amazon.com, Inc. Price and Consensus
Amazon.com, Inc. price-consensus-chart | Amazon.com, Inc. Quote
More Into the Headlines
On the back of this deal, Audible made the first chapter of an audiobook titled The Boys in the Boat, a film produced by Amazon MGM Studios, available for free before it got released in the theatres.
The film hit the theatres this Christmas and was the first result of this joint effort.
Audible offered links to purchase the film tickets while playing the audiobook. Along with Regal, it also offered a two-month extended free trial of Audible Premium Plus to the Regal Crown Club members.
The audiobook-to-screen titles initiative, with the support of Regal and Amazon MGM Studios, is expected to aid Audible in delivering enhanced listening and storytelling experiences to the listeners.
Wrapping Up
The latest move brings multiple engagement opportunities with Amazon MGM and other studios for Audible, which, in turn, will strengthen its content library.
This will aid Amazon to capitalize on the growing demand for audiobooks worldwide.
Per a report from Grand View Research, the global audiobooks market is anticipated to witness a CAGR of 26.3% between 2023 and 2030.
Growing prospects in this booming market are expected to aid Amazon in winning investors’ confidence in the days ahead.
Zacks Rank & Other Stocks to Consider
Currently, Amazon sports a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks in the retail-wholesale sector are The Gap (GPS - Free Report) , Expedia Group (EXPE - Free Report) and 1stdibs.com (DIBS - Free Report) . While The GAP currently sports a Zacks Rank #1, Expedia and 1stdibs.com carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Gap has gained 86.7% on a year-to-date basis. GPS' long-term earnings growth rate is 12%.
Expedia's shares have rallied 75.9% year to date. EXPE's long-term earnings growth rate is 25.31%.
1stdibs.com's shares have lost 18.3% on a year-to-date basis. DIBS's long-term earnings growth rate is 4.2%.