The company has a 'first look' deal with Warner Bros to help get the best movies into production.
Here's how it works. Scripts or full-length test movies submitted to Amazon Studios will be accessible to the public, who get the chance to make their own changes.
Entries will be judged by a panel drawn from the industry, with initial participants including screenwriter and chair, writing division of the USC School of Cinematic Arts, Jack Epps, Jr. (Top Gun, Dick Tracy), producer Mark Gill (former president of Miramax and Warner Independent Pictures), screenwriter Mike Werb (Lara Croft: Tomb Raider, Curious George, Face/Off, The Mask) and producer and chair, production division of the USC School of Cinematic Arts, Michael Taylor (Bottle Rocket, The Pursuit of D.B. Cooper).
The best movies will be offered to Warner Bros, and the originators of any that get released will receive $US200,000 for the rights, with a $US400,000 bonus if the US box office exceeds $US60 million. If Warner isn't interested, Amazon is able to produce the movie with another studio.
And there's more cash in the kitty - see page 2.
Amazon officials stressed that any prizes awarded are in addition to any rights payments.
Entries are accepted from around the world, so if you have a good idea, this could be your break.