Amazon.com Inc. recently reported its largest acquisition since Whole Foods with the $8.45 billion purchase of Metro-Goldwyn-Mayer (“MGM”). This investment seems to make a lot of sense for Amazon, as it is constantly on the lookout for content to provide its members. Last year, the company spent $11 billion on content for the streaming video and music services business. Mike Hopkins, SVP of Prime Video and Amazon studios, 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.” MGM currently has an over 4,000-title film library and generated $1.5 billion in revenue and $307 million in EBITDA in 2020.
Quazar was not involved in this transaction.
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