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Amazon is set to debut a competition show that allows players to pitch their products to company execs and celebrity judges for a chance at startup stardom — top billing on the e-commerce giant’s site.
Why It Hits: Instagram, TikTok, Amazon… finding a seamless way to mix commerce and entertainment has become the Holy Grail of the tech industry. By mixing a tried-and-true format with a novel approach to platforming promising products, Amazon may have struck gold.
Between the Lines: WSJ describes Amazon’s new show, Buy It Now, as Shark Tank meets the Home Shopping Network.
- The show, hosted by Curb Your Enthusiasm’s J.B. Smoove, will debut on October 30th on Prime Video.
- Contestants have 90 seconds to pitch their products in front of a studio audience, who will then vote if the pitch should be presented to a panel of judges.
- Judges include Amazon execs like ad sales VP Tanner Elton, Ring founder Jamie Siminoff, actress and Goop founder Gwyneth Paltrow, designer Christian Siriano, and pro skateboarder Tony Hawk.
- Winners will each receive $20,000, prime placement on Amazon’s new “Buy It Now” store, and internal support on how to position their product to attract customers.
Closing Thoughts: The show sounds like a win-win for both entrepreneurs and Amazon. Getting top exposure on the retail giant’s site, especially for smaller companies, is only getting harder and more expensive, so a leg up could be a path to success. On the other hand, Amazon gets a buzzy way to market products on the platform. Coupled with Amazon Live and QR-enabled shows, Amazon may be creating a blueprint for turning audiences into customers.
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