Jan 24 (Reuters) - Amazon's ( AMZN ) Prime Video has

shifted its strategic focus towards live sports and away from

original television shows and movies, seeking to meet internal

corporate profit targets, The Information reported on Friday.

Amazon's ( AMZN ) reported move marks a pivotal moment for the tech

giant as it looks beyond its traditional focus on original

content for generating revenue.

Live sports events, with their real-time viewership,

offer valuable opportunities for targeted ad placements, and has

encouraged streaming companies to secure more live content deals

to boost ad revenues.

Amazon ( AMZN ) CEO Andy Jassy aims to make Prime Video profitable by

the end of 2025, and this shift is part of the strategy to

achieve that goal, according to the report, citing two sources

familiar with the company's plans.

Amazon ( AMZN ) has invested heavily in sports content, spending

about $3 billion annually for broadcasting rights to major

leagues such as the NBA and NFL, the report said.

In July, Amazon ( AMZN ), along with Walt Disney's ( DIS ) ESPN ( DIS ) and

Comcast ( CMCSA )-owned NBCUniversal signed the rights to carry

NBA games in an 11-year deal valued at $77 billion. Amazon ( AMZN ) also

began placing ads within its Prime Video platform last year.

Prime's biggest rival, Netflix ( NFLX ) has also made a

strong push into live sports with deals for Christmas Day NFL

games, a high-profile boxing match between Jake Paul and Mike

Tyson, and live WWE RAW events.

After a 2022 planning meeting, Amazon's ( AMZN ) entertainment team

has been commissioning fewer film and TV projects, according to

the report which cited eight producers with ongoing or recent

projects with the company.

For 2024, Amazon's ( AMZN ) annual budget for original and licensed

movies, TV shows, and live sports was around $7 billion,

according to the report.