Amazon (AMZN) Movie Plans Shake Up Hollywood

It's all about the future. So let's look ahead.

Amazon Plans Movies

Amazon Studios is branching out from the small screen to big screen, announcing plans to begin producing and acquiring original movies for theatrical release and, within weeks, video streaming. The online giant says it plans to release a dozen original "prestige movies" annually. With Americans changing the way they view TV and movies, Amazon's expansion will be watched closely by Hollywood producers and studios. Independent filmmaker Ted Hope will oversee creative development for the new unit, Amazon Original Movies. "The development is another step in Amazon's ambitious plan to increase its entertainment offering to consumers, and an escalation in Amazon's rivalry with Netflix," reported The New York Times.

Dish Network Tries New Model

Dish Network's launch of a new online service offering a limited selection of cable channels is another sign of change. "We are starting to see signs of media companies kind of trying out new models," said Paul Sweeney, media analyst at Bloomberg Intelligence. "I think the marketplace is going to step back and take a look at how the Dish service rolls out." Cable TV providers, he said, could also offer cheaper online subscriptions for people don't want to pay the full cost of cable.

China Growth Slows

The future for China could be slower growth, with consumer spending paying a bigger role in the economy. Fourth quarter Chinese growth came in at an annual rate of 7.4 percent - very strong by the standards of most nations but sluggish for China. The International Monetary Fund has lowered its forecast for global growth - a concern for American exporters. But the IMF calls the U.S. economy a bright spot.

Boy, 13, Launches Company Focused on Braille Printers

In Silicon Valley, it's never too early to become an entrepreneur. Just ask 13-year-old Shubham Banerjee. The California eighth-grader has launched a company to develop low-cost machines to print Braille, the writing system for the visually impaired. Tech giant Intel Corp. recently invested in his startup, Braigo Labs. Shubham built a Braille printer with a Lego robotics kit as a school science fair project last year after learning that Braille printers, also called embossers, cost at least $2,000 - too expensive for most blind readers, especially in developing countries. "I just thought that price should not be there. I know that there is a simpler way to do this," said Shubham.