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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