The streaming wars are heating up again, first, we had WarnerMedia teaming up with Discovery Plus, and then it was HBO Max with its introduction of a more affordable ad-supported plan. Now, Amazon is making moves by acquiring MGM, a studio that has won more than 180 Academy Awards and 100 Emmys.
Amazon has been rumored to be in talks to buy up MGM for a couple of months now, but it finally made it official today making the announcement on its blog. The acquisition is to the tune of $8.45 billion dollars and it means that Prime Video members are about to get access to a lot more content.
MGM is most widely known for iconic films such as the Rocky movies and James Bond, but its catalog includes over 4,000 movie titles like Tomb Raider, Poltergeist, Legally Blonde, Silence of the Lambs, Stargate, and many many more.
Furthermore, MGM is home to 17,000 TV shows with hits such as Fargo, The Handmaid’s Tale, Vikings, The Voice, and Shark Tank on the roster.
Plus, let’s not forget that MGM has a slate of upcoming films on the horizon like the new James Bond movie No Time to Die, The Addams Family 2, Respect, and House of Gucci.
While all of that is a pretty convincing reason for Amazon to drop $8.45 billion on the studio, that’s not the end of it. Amazon plans on using MGM’s catalog to create more original programming.
“The real financial value behind this deal is the treasure trove of IP in the deep catalog that we plan to reimagine and develop together with MGM’s talented team. It’s very exciting and provides so many opportunities for high-quality storytelling.”
With a fresh library of content and more original IP for making movies and TV, it looks like Amazon is poised to stay competitive with the likes of HBO Max, Disney Plus, and Netflix as the streaming landscape becomes more crowded.