In the latest attempt to secure ‘’crown jewel’’ content in the battle for streaming supremacy, Amazon is now in talk to acquire MGM, the Hollywood studios behind the James Bond and Rocky franchises.
With almost a century-long history, MGM is one of the Hollywood’s most famous studios. If Amazon does acquire it, the sale would give the technology giant’s Prime streaming service access to a vast catalogue of iconic content.
The movie studio has generated or distributed a collection of popular franchises, including James Bond, Shark Tank, Vikings, The Handmaid’s Tale, Rocky, and many others.
Its vast treasure of content, estimated at over 4,000 film titles and 17,000 television episodes, would mark a major triumph for Amazon, immediately bolstering the company’s production capabilities and boosting the streaming offerings for Amazon’s Prime Video and IMDB Channel.
Although the price of the deal is still under discussion, according to reports the sale is worth between $7 billion and $10 billion.
According to experts, Amazon’s move to buy MGM will increase tremendously its Prime Video subscribers. Bezos recently announced that over 175 million Prime members streamed several movies and TV shows over the past year. He also said that Prime Video has pulled in a 70% year-over-year growth in streaming hours. The general increase in Amazon’s TV and video figures seems to play well with Amazon’s interest in MGM.
While the news has not been made official yet, financial experts predict a vast increase in Amazon stock, during the next few months. That is definitely good news for investors, who have had their eye on stock.