Amazon’s acquisition of MGM was first announced in May 2021. It is the second largest acquisition for Amazon so far, just behind Whole Foods which Amazon paid $13.7 billion for in 2017.
Since the initial announcement, the acquisition has been under review by regulators. Recently the European Commission approved the acquisition and in the US it appears the Federal Trade Commission has not blocked or delayed the acquisition since Amazon have now publicly announced that MGM is part of Prime Video.
MGM’s catalog includes: 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 more.
MGM’s catalog includes over 4,000 film titles and over 17,000 TV episodes. The company also has 180 Academy Awards and 100 Emmy Awards. The acquisition of MGM may also open up the opportunity of even more Prime Original content, which Amazon has seen success in with shows such as The Grand Tour and Top Clancy’s Jack Ryan.
Chris Brearton, chief operating officer of MGM said:
“We are excited for MGM and its bounty of iconic brands, legendary films and television series, and our incredible team and creative partners to join the Prime Video family,”
He also added:
“MGM has been responsible for the creation of some of the most well-known and critically acclaimed films and television series of the past century. We look forward to continuing that tradition as we head into this next chapter, coming together with the great team at Prime Video and Amazon Studios to provide audiences with the very best in entertainment for years to come.”
It is unclear if or how many of MGM’s 4,000+ movie catalog and 17,000+ TV episodes will actually reach Prime Video. However, the purchase may help Amazon improve its Prime Video service even further to help it compete with other similar services such as Netflix and Disney.
Recently Amazon announced it would be increasing the price of Amazon Prime for subscribers. In the US the annual cost is to rise from $119 to $139 and monthly cost from $12.99 to $14.99. Netflix has also been rising prices recently and also even testing an additional charge for users who share accounts with people not in their household.