Earlier this summer, Amazon beat Walmart to become the world’s largest retailer. It took three decades and a global pandemic that brought e-commerce adoption to lightning speed.
The following ? The tech giant could aim for the title of the world’s largest media company, its latest move, announced on Tuesday, brings digitizing retail technology from Amazon’s palm to the world of live concerts.
Lend a hand for the group
Bringing new meaning to the term “helping out,” Amazon showcased its palm recognition technology, Amazon One, at the famous Red Rocks Amphitheater in Denver. Spectators can now create a ticket account with the venue and enter shows with a simple wave of the hand.
This is the first time the technology has been used outside of Amazon stores, where shoppers can pay for groceries with the swipe of the hand, and will be rolled out to more locations through a partnership with entertainment giant AEG. Amazon is hoping that scanning technology will someday rival contactless cards and QR codes, but so far adoption has been reduced. There are “tens of thousands” of users and the company has even started offering people a $ 10 credit for signing up.
Lord of the Bling: Hands or not, the springtime entertainment scene is no surprise. On Tuesday, new Amazon CEO Andy Jassy said “it’s still early days for us in the media.” This is something, because the company already weighs a lot on:
- Amazon spent $ 11 billion streaming video and music content in 2020, up from $ 7.8 billion in 2019. Its next the Lord of the Rings the adaptation, the first season of which will cost $ 465 million, looks like the most expensive TV show of all time.
- The company is increasingly purchasing live sports rights, including certain MLB, NFL and English Premier League football matches. He is currently in talks to acquire the rights to broadcast the NFL’s Sunday Ticket, which could cost $ 2.5 billion a year.
Back to basics: Aside from the burgeoning media empire, Amazon still has its eyes on what makes its bread: on Tuesday the company announced it would hire 125,000 employees to staff its vast network of distribution centers and airport hubs. .
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