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Amazon has seen some critical success with its low-budget film output, most notably comedy 'The Big Sick' and Oscar-winning drama 'Manchester by the Sea'. But now it seems the streaming giant is shunning smaller, indie titles and instead investing more in big-budget blockbusters.

Instead of buying films with relatively small budgets of around $5 million, it's going after $50 million behemoths.

But it's not turning its back entirely on independent films. According to the report, it's still chasing high-end indies in the hope of snagging some awards.

Amazon is also eyeing bigger things in the TV space. It reportedly paid $250 million for the rights to a TV series based on 'The Lord of the Rings'.

Big investments don't always guarantee success, however. Netflix invested $90 million into the Will Smith film 'Bright', but it was hammered by critics. Though it performed well, scoring the best first-week viewing of any original film on Netflix. In fact, it notched up 11 million views in its first three days. Netflix is now producing a sequel.

Source: Reuters

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