Amazon (AMZN - Free Report) is making every effort to make its first Australian Amazon Original series – LOL: Last One Laughing a success. In fact, the company has entered into a contract with Rebel Wilson, an Australian actress, writer and producer, to host and executive produce the series.
The series is going to be centered on the antics of 10 Australian comedic actors and will go on the floors this spring in Sydney. The show, with a grand prize of AUD$ 100,000, will have comedians compete among themselves to make each other laugh first.
Amazon is looking to gain traction among Australian online video audience with Australia-based original content. Further, the strong fan base of Rebel Wilson is likely to aid viewer base of the series under review.
Notably, LOL: Last One Laughing will start streaming on Prime Video in 2020 across over 200 countries and territories. We believe the series is likely to encourage Prime membership in Australia.
Australia Holds Promise
The latest move of the company is a testament to its strong focus toward expanding presence in Australia. Notably, the e-commerce giant is aware of the country’s immense opportunities.
With the original Australian content, the company is well poised to reap benefits from the video streaming market of the country which as per a report from Statista is expected to generate revenues of $119 million in 2019 to reach $146 million by 2023 at a CAGR of 5.3% between 2019 and 2023.
Further, user penetration in this particular space is anticipated to reach 21.2% by 2023.
Additionally, Amazon’s strong initiatives to make the series entertaining will aid momentum across the Prime members in the country and is likely to attract new Prime subscribers.
This creates a growth opportunity for its e-commerce business in Australia as well. All these are likely aid the company’s top line.
Expanding Original & Comedy Portfolio
We note that the upcoming LOL: Last One Laughing in Australia will be another addition to Amazon’s original content and comedy series portfolio.
Moreover, the company’s Australian series initiative is similar to the strategy it followed in Mexico. Amazon launched LOL: Last One Laughing in the country late last year, which was hosted by Mexican star-comedian Eugenio Derbez.
Further, its original Japanese series, Documental, starring megastar comic Hitoshi Matsumoto is another example of this strategy. Additionally, Amazon recently premiered second season of Comicstaan, which is a show centered on stand-up comedians of India.
Apart from these original comedy series, the company revealed the plan for its first Brazilian Amazon Original series – All or Nothing: Brazilian National Football Team last month. During the second quarter, Amazon aired Good Omens and Chasing Happiness. Further, the company is gearing up to stream the third season of The Marvelous Mrs. Maisel in December this year.
The above-mentioned facts indicate that the company is spending aggressively on expanding content portfolio. Its total video and music expense came in $1.8 billion in the last reported quarter, which was up 12.5% year over year.
We believe all these are likely to strengthen the company’s footprint in the global online streaming space. Notably, the market is witnessing intensifying competition due to increasing efforts of Netflix (NFLX - Free Report) , Disney (DIS - Free Report) , Hulu, Apple (AAPL - Free Report) and Amazon.
Among these Netflix rules the roster with the highest number of subscribers driven by its expanding original content portfolio.
However, Amazon’s expanding content portfolio, increasing content investment and comparatively lower subscription price makes it a strong competitor of Netflix. Also these factors are likely to aid its competitive position in the market.
Currently, Amazon carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 7 stocks to watch. The report is only available for a limited time.
See 7 breakthrough stocks now>>