Editor’s note: This story has been updated with a quote from Bond producers Eon Productions about their commitment to theatrical releases for future 007 installments.
Amazon and MGM have struck a $8.45 billion deal for the e-commerce giant to acquire the storied studio behind James Bond. MGM’s enormous library and underutilized franchises will be major assets for Amazon’s streaming efforts: While Amazon has virtually unlimited money to spend on film, TV, and music (last year’s content budget: $11 billion), it doesn’t have a century’s worth of content.
With streamers dominating the industry in a post-pandemic land grab for subscribers, the MGM deal means Amazon has a clearer path to the industry’s number-three spot, after Netflix and Disney. This deal gives Amazon a major leg up on another deep-pocketed tech company, Apple, which planned to spend $17 billion on content last year but has no library to speak of.
Amazon and MGM have struck a $8.45 billion deal for the e-commerce giant to acquire the storied studio behind James Bond. MGM’s enormous library and underutilized franchises will be major assets for Amazon’s streaming efforts: While Amazon has virtually unlimited money to spend on film, TV, and music (last year’s content budget: $11 billion), it doesn’t have a century’s worth of content.
With streamers dominating the industry in a post-pandemic land grab for subscribers, the MGM deal means Amazon has a clearer path to the industry’s number-three spot, after Netflix and Disney. This deal gives Amazon a major leg up on another deep-pocketed tech company, Apple, which planned to spend $17 billion on content last year but has no library to speak of.
- 5/26/2021
- by Chris Lindahl
- Indiewire
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