It’s nearly 2:30am, and I just got confirmation that Amazon is buying MGM. This is really happening.
Which film studio was recently purchased by Amazon?
What is Amazon going to do with MGM?
- MGM is one of the largest movie studios in the world.
- Besides producing great film and TV content, MGM owns a large library of movies and tens of thousands of titles.
- This acquisition is good news for Amazon customers who want to watch their favorite films anytime and everywhere with their Prime membership and it also helps Amazon to compete against Netflix.
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The company Amazon just purchase
Amazon just purchased the company behind James Bond films, MGM. The company will continue to operate as a separate brand, but with increased resources and global reach that could make it an even bigger force in entertainment.
Amazon own a movie studio
Amazon does own a movie studio. The studio is called “MGM” and it has more than 21,000 titles in its library.
The reason Amazon bought MGM Studios
Amazon bought the MGM Studios because they wanted to enter the movie production business. Amazon believes that it can find ways to cater more specifically to individual tastes, like recommending films based on watching habits and genre preferences.
The exact date Amazon bought MGM Studios
Amazon Studios has confirmed that it has bought out MGM Studios, effective from January 1, 2022. The move is part of a broader strategy by the US e-commerce giant to been turned into a multi-layered entertainment provider.
Amazon’s latest acquisition
Amazon’s latest acquisition is Grand St., the online marketplace for indie and craft goods.
The big companies Amazon owns
Amazon also owns a variety of subsidiary companies, including Amazon Web Services, Audible , Comixology , Goodreads , AbeBooks , Zappos and IMDb .
Amazon isn’t the largest company in the world
Amazon is not the largest company in the world–Apple is. Amazon’s market cap is around $200 billion, while Apple’s is $1.1 trillion. However, Amazon has a greater revenue than Apple.
Amazon’s competition
Amazon’s main competitors are Walmart, Target, and Best Buy.
