Cinemas stocks got a boost Wednesday after a report that online retailer Amazon plans to spend $1 billion a year on theatrical film releases.

Bloomberg, citing unnamed sources, reported Amazon plans to release 12 to 15 movies in theaters, with the push into the local multiplex getting underway in 2023. Representatives for Amazon were not available for confirmation of the media report, which follows the e-commerce giant acquiring MGM Studios for $8.45 billion.

Amazon is thought to have eyed MGM’s vast film library to drive the acquisition deal, but attention is now turning to how the studio will be run under the e-commerce giant’s leadership, with an eye to continuing production of theatrical tentpoles.

Cinema stocks surged on news of the potential theatrical movie push by Amazon. Shares in Cinemark rose $1.47, or 12 percent to $13.74 in late afternoon trading on Wednesday. Rival AMC Theatres saw its stock price rise by 40 cents, or just over 5 percent, to $7.72. And shares in Imax rose $1.04, or 7 percent to $15.48, while stock in Cineplex rose 45 cents, or 4.5 percent, to $10.38.

Cineplex CEO Ellis Jacob told The Hollywood Reporter on Nov. 10 that the theater chain was in talks with other online players, including Amazon and Apple, about putting their own movies on his theater screens.

Plans for an Amazon theatrical movie push recalls Amazon Studios, though focused on TV, nearly a decade ago getting into the movie business under leadership regime led at the time by vp Roy Price and creative development head Ted Hope.

But after an early backlash by exhibitors to Netflix and other online video giants making brief releases of their film titles in theaters before shifting to streaming services, major cinema chains are stepping up negotiations with streamers as they embrace theatrical windows.

Apple TV+ and Amazon Prime Video have used movie theaters to market their upcoming movie streaming releases, and exhibitors are looking for Netflix to increasingly follow their lead.