Metro Goldwyn Mayer (MGM) is a known name in the world of cinemas, producing some of the most iconic films mankind has ever seen. Amazon has now inked a deal with the studio, buying out the entire company for a sum of $8.45 billion. This means Amazon gets access to all of MGM’s content from previous years – that’s 4,000 films and 17,000 hours of TV shows.
The deal makes Amazon’s catalogue for Prime Video rich, with some of the most notable franchises like James Bond and Rocky. The move can also make Amazon a name to be reckoned with in a world where Disney and Netflix are ruling the OTT platform space. Amazon says that the deal will provide customers with “greatest access to MGM’s work.”
Amazon buys MGM Studios
“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,” Mike Hopkins, senior vice president of Prime Video and Amazon Studios, said in a media statement. “It’s very exciting and provides so many opportunities for high-quality storytelling,” he adds.
MGM has a vast catalog with more than 4,000 films—12 Angry Men, Basic Instinct, Creed, James Bond, Legally Blonde, Moonstruck, Poltergeist, Raging Bull, Robocop, Rocky, Silence of the Lambs, Stargate, Thelma & Louise, Tomb Raider, The Magnificent Seven, The Pink Panther, The Thomas Crown Affair, and many other icons—as well as 17,000 TV shows—including Fargo, The Handmaid’s Tale, and Vikings—that have collectively won more than 180 Academy Awards and 100 Emmys,” said Hopkins.
“I am very proud that MGM’s Lion, which has long evoked the Golden Age of Hollywood, will continue its storied history, and the idea born from the creation of United Artists lives on in a way the founders originally intended, driven by the talent and their vision. The opportunity to align MGM’s storied history with Amazon is an inspiring combination,” said Kevin Ulrich, Chairman of the Board of Directors of MGM
Will this see an increase in price for Prime Video subscription? We don’t know for now. After the deal between Disney and Hotstar, the latter increased the price for its annual subscription from Rs 999 to Rs 1,499 in India. The Prime Video subscription currently comes free with the Amazon Prime subscription, costing overall Rs 999. Amazon also bundles access to Prime Music and a few other services.