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Jeff Bezos, CEO and founder of Amazon. Photo: Reed Saxon / AP

Amazon is ditching its plans to create an online streaming skinny bundle because it doesn't think it will be profitable enough, per Reuters. It has been unable to court traditional TV networks to bring their content to its Amazon Channels service.

Why it matters: Amazon has made large investments in video with the hope of increasing user engagement on its platform. It was hoping to dip into the TV streaming model, but the reported lack of confidence in the platform shows that the distribution economics behind the linear TV model are tough to completely reimagine for digital.

Amazon's content play: Experts predict Amazon will spend roughly $4.5 billion on content this year, a significantly larger investment than most of its cable rivals. It has been successful in securing the rights of original entertainment and programming, despite the reported difficulties in winning TV contracts. Just this week, it announced the purchase of global television rights to a multi-series showing of "The Lord of the Rings.”

Go deeper: From advertising to original content, Amazon's eating the media

Go deeper

15 mins ago - Podcasts

Bob Nelsen on AstraZeneca and his plan to revolutionize biotech

AstraZeneca and the University of Oxford on Monday reported promising efficacy data for their COVID-19 vaccine, which has less stringent storage requirements than the Pfizer and Moderna vaccines and may be distributed earlier in developing countries.

Axios Re:Cap digs into the state of vaccine and therapeutics manufacturing with Bob Nelsen, a successful biotech investor who on Monday launched Resilience, a giant new pharma production platform that he believes will prepare America for its next major health challenges.

Ben Geman, author of Generate
Updated 21 mins ago - Energy & Environment

Unpacking Joe Biden's decision to tap John Kerry as his climate envoy

Photo: Pablo Blazquez Dominguez/Getty Images

President-elect Joe Biden is naming former Secretary of State John Kerry as a special presidential envoy for climate change.

Why it matters: The transition team's announcement sought to show that it will be an influential role, noting that Kerry — a former Massachusetts senator and the Democrats' 2004 presidential nominee — will be on the National Security Council.

Dave Lawler, author of World
2 hours ago - World

Oxford and AstraZeneca's vaccine won't just go to rich countries

Waiting, in New Delhi. Photo: Jewel Samad/AFP via Getty Images

While the 95% efficacy rates for the Moderna and Pfizer/BioNTech vaccines are great news for the U.S. and Europe, Monday's announcement from Oxford and AstraZeneca may be far more significant for the rest of the world.

Why it matters: Oxford and AstraZeneca plan to distribute their vaccine at cost (around $3-4 per dose), and have already committed to providing over 1 billion doses to the developing world. The price tags are higher for the Pfizer ($20) and Moderna ($32-37) vaccines.