Amazon’s “Rings of Power” returns as streamers hook viewers with tentpole shows
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Lord of the streams… The second season of “The Lord of the Rings: The Rings of Power” debuted on Amazon’s Prime Video today. The show’s first season was Amazon’s most-watched this week, signaling hype for part two of the Tolkien series’ five planned seasons. “The Rings of Power”’s first season is believed to be the priciest TV show ever made, costing $715M. 25M Tolkienites tuned in for S1’s first episode on its first day, making it Amazon’s most-viewed premiere. Prime’s chasing the fiery success of Warner Bros. Discovery’s “Game of Thrones.”
Fantasy feud: “The Rings of Power”’s first two episodes got way more views than S1 “House of the Dragon”’s first two. But RoP had a steep dropoff between its first episode and finale, while HoD gained viewers between its first and last episodes.
One show to rule ’em all… Streamers are spending big on exclusive content, from original shows to live-sports deals. Amazon splurged nearly $19B on movies, shows, and Amazon Music tunes last year, up 14% from 2022. It thinks Prime Video can become profitable because it keeps investing in exclusive shows. Netflix plans to spend $17B on content this year, a more than $4B bump from last year, and most of it’s earmarked for exclusives. (Netflix’s top shows have consistently been original hits like “Emily in Paris”). Apple TV+ has spent $500M+ on making award-winning movies like “Flowers of the Killer Moon.”
Exclusive hits hook viewers… and licensed oldies like “Seinfeld” anchor them. Streamers are trying to strike a balance between splurging on originals and reserving some $$ for licensed classics that Disney+ and Max already have stockpiled. New seasons drive sign-ups, but it’s the shows viewers want to watch while they’re washing dishes that keep them from hitting “unsubscribe.” So come for “Stranger Things,” stay for “Sex and the City.”