The technology firm already runs a movie studio, Prime Video streaming support, and video game streaming website Twitch. However, the MGM deal is its own main move into amusement.
The statement was made Wednesday morning from the 2 companies. In an announcement, Amazon's senior vice president of Prime Video and Amazon Studios, Mike Hopkins, highlighted the intellectual property worth of MGM's vast holdings, which return into the 1920s. "The true monetary worth behind this arrangement," Hopkins said,"is that the treasure trove of IP from the deep catalogue we intend to reimagine and grow with MGM's talented group "
MGM also possesses the EPIX cable station and runs on the TV studio which created The Handmaid's Tale and Fargo.
MGM also divides the exceptionally profitable James Bond film franchise with a household that retains creative control of the 007 films. Based on Variety, as of 2020 that the 24 movies released up to now in the show have created $16.3 billion in global ticket sales, adjusted for inflation.
Access to these films and shows will surely fortify Amazon's Prime Video offerings, especially at a time when other studios and networks have established their very own platforms to reach customers, including HBO Max, Paramount+ and Disney+. As of last month, there have been over 200 million Amazon Prime accounts holders globally, Amazon founder Jeff Bezos informed Variety.
The Wall Street Journalreported Wednesday that the price for $8.45 billion comprises shooting on MGM's present debts. The deal hasn't yet closed, an Amazon spokesperson noted to NPR, and will be subject to regulatory approvals. The business is facing antitrust inquiries in the U.S. and Europe.
