Amazon is going to start making movies for theaters and Prime

Coming to a theater near you: Amazon plans to start producing “close to twelve” movies a year. The films will “premiere on Prime Instant Video in the U.S. just 4 to 8 weeks after their theatrical debut,” so Prime members won’t need to shell out to see them in theaters. Ted Hope, who produced films such as Crouching Tiger, Hidden Dragon, is leading the effort.

Speaking of Crouching Tiger, Prime Instant Video competitor [company]Netflix[/company] is, ironically, producing a sequel to that movie, which it will begin streaming the same day it premieres in IMAX theaters. Netflix also announced in October that it had acquired exclusive rights to four upcoming Adam Sandler movies.

“[company]Amazon[/company] Original Movies will be synonymous with films that amaze, excite, and move our fans, wherever customers watch,” Hope said in a statement.

Amazon: No plans to launch a standalone video service soon

As Amazon adds more content to Prime Instant Video, some expect the company could create a standalone service to compete with Netflix. But Digital Content Acquisition Head Brad Beale said Amazon will stay focused on the Prime bundle, at least in the near future.