Amazon announced this morning that it will acquire the MGM for $8.45 billion, significantly enhancing its online content strategy.
“MGM has a vast catalog with more than 4,000 films [and] 17,000 TV shows that have collectively won more than 180 Academy Awards and 100 Emmys,” Amazon senior vice president Mike Hopkins said. “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. It’s very exciting and provides so many opportunities for high-quality storytelling.”
Based on that quote, it’s reasonable to assume that Amazon will pursue a Disney+-like strategy with MGM in which it repurposes famous movie and TV show properties with new and rebooted movies and TV shows, many that it will make available exclusively via Amazon Prime Video.
And MGM does own a lot of valuable intellectual property: In addition to the James Bond series, it owns Creed, Silence of the Lambs, Stargate, The Pink Panther, and a lot of other content.