NEW YORK (

TheStreet

) --

Amazon

(AMZN) - Get Report

has launched a

Web site

aimed at giving screenwriters a chance to submit movie scripts that could eventually become commercial feature films.

Amazon Studios is a partnership with

Time Warner

(TWX)

that gives Warner Bros. Pictures first look at the top submission received by Dec. 31, 2011.

"We are excited to introduce writers, filmmakers and movie lovers to Amazon Studios," digital product development director Roy Price said. "We hope that Amazon Studios will help filmmakers experiment and collaborate and we look forward to developing hit movies."

Amazon says its goal is to produce a new theatrical film based on the best project submitted. If Warner Bros. turns down the winning projects, Amazon has the right to take the script elsewhere.

If Amazon releases a theatrical feature film based on a submitted project, it will pay the submitter $200,000, in addition to annual and monthly awards. The company will also pay the filmmaker $400,000 if the movie makes more than $60 million in the U.S.

Winners for the first monthly awards will be announced at the end of February. Judges include former president of

Disney's

(DIS) - Get Report

Miramax studios Mark Gill, and Mike Werb, the screenwriter of films such as

Lara Croft: Tomb Raider

,

Face/Off

and

The Mask

.

-- Written by Theresa McCabe in Boston.

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