The deal ultimately reflects the rise of streaming media, video games, YouTube and other entertainment alternatives of traditional cinema which have grown during the pandemic.
Amazon will acquire Metro Goldwyn Mayer or MGM, renowned for its James Bond movie franchise among other iconic IPs, for $8.45 billion.
Implications Of The Deal
The deal will broaden the scope of Amazon Prime Video, potentially adding 4,000 films and 17,000 television shows to its library.
It also comes at an opportune time for the struggling MGM which has not had many hits in recent years and is on the verge of bankruptcy.
This will bolster the OTT service’s chances as it competes with Netflix, HBO Max, Apple TV+ and Disney+ among others.
Amazon is already experiencing growth in its retail and cloud division.
The deal will help further its ambitions to make inroads into the entertainment and streaming media division.
However, it could also shine unwanted spotlight once again on Amazon which, among other rapidly growing tech giants, has been accused of antitrust practices.
Notable IPs of MGM
Many would be familiar with franchise names such as the Rocky, Legally Blonde, RoboCop and Tomb Raider series.
Other legendary films it has had a hand in consist of titles such as 12 Angry Men, Raging Bull, Thelma & Louise, The Pink Panther, etc.
Its TV repertoire includes Fargo, Vikings, The Handmaid’s Tale and Shark Tank.
The studio’s upcoming lineup consists of highly anticipated titles such as the latest James Bond movie No Time to Die, House of Gucci, Respect, and The Addams Family 2.
James Bond Finally Coming To OTT?
When it comes to the question of whether the Bond franchise will finally come online, producer siblings Barbara Broccoli and Michael G Wilson of Eon Productions have stated their commitment to make films for theatre audiences.
Amazon will own only half of the spy franchise, with the other half retained by its producers.
Both Broccoli and Wilson are known to exercise tight creative control over the franchise with respect to who the next titular Bond will be, when to make the next film and whether it will get TV spinoffs.
The deal ultimately reflects the rise of streaming media, video games, YouTube and other entertainment alternatives of traditional cinema which have grown during the pandemic.
Though movies in cinema halls are not dead yet, the scope of digital media is certainly going to only get bigger as the days go on.
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