Business
Amazon Acquires MGM Movie Studio In $8.5B Deal
Amazon just acquired MGM movie studio in a record $8.5B deal.
The film studio founded in 1924, will bring Amazon a catalog of more than 4,000 movies and 17,000 tv shows.
Big films include the James Bond and Rocky movie franchises.
The bold move looks to improve the company’s position in the streaming services sector by adding even more content to its already extensive library.
“MGM has a nearly century-long legacy of producing exceptional entertainment, and we share their commitment to delivering a broad slate of original films and television shows to a global audience,” Mike Hopkins, SVP of Prime Video and Amazon Studios, said in a statement.
The deal, which was first announced last May, received clearance from the European Union’s antitrust regulator two days ago.
Amazon says the nearly century-old studio will complement Prime Video and Amazon Studios’ content and that together, the two will create more quality entertainment options for subscribers.
Are streaming services affecting movie theatres?
Not at all.
AMC Entertainment reported during their Q4 earnings call more attendees visited the movie theatre chain each quarter of 2021.
The world’s largest movie theatre chain seated more than 60 million guests in Q4 of 2021 alone.
While online streaming services are convenient, pandemic restrictions have pushed people to want to go out and experience normalcy again.
The movie theatre experience cannot be replicated at home.
People will still wait in line for the showing of their favorite film in anticipation.
Because ultimately, it’s an experience people want over the convenience.
AMC Theatres: The most anticipated movies coming in 2022
Unions pressured FTC to reject the Amazon-MGM acquisition
However, not everyone is particularly excited about the news.
“The prospect of Amazon acquiring a trove of additional MGM content to build on Amazon’s existing vast library should raise alarm bells,” the group said.
The deal closed despite pushback from several labor groups, which asked the FTC to block the transaction – arguing it would stifle competition in the streaming market.
This $8.45 billion transaction is the second-largest acquisition in Amazon’s history, trailing only its $13.7 billion deal to buy grocery chain Whole Foods in 2017.
Amazon acquiring MGM expands its content pool during a period of intense competition for viewership.
The FTC could intervene in the future if Amazon violates anti-trust laws.
Antitrust laws are statutes developed by governments to protect consumers from predatory business practices and ensure fair competition.
What are your thoughts on Amazon acquiring MGM?
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AMC Theatres: The most anticipated movies coming in 2022
American Entrepreneur and Journalist. Frank Nez is the CEO of Nez Media Company and Founder of advertising agency Easy Marketing Concepts.
American Entrepreneur and Journalist. Frank Nez is the CEO of Nez Media Company and Founder of advertising agency Easy Marketing Concepts.
Every mainstream media outlet is predicting a looming housing market crash. But billionaire real estate investor and bestselling author Grant Cardone says there will be no housing crash in America.
Grant Cardone walked us through his thoughts on the economy and the future of housing in America.
“The day of owning a home, if you don’t grab yours in this next cycle, you’re probably not going to have one in your lifetime.”
Grant says these homes are going to become rental properties primarily for the investor, not the end-user.
And, in the process, become extremely valuable in the future.
The only thing that would change the trajectory of ownership statistics, in his eyes, is if mortgages are hypothetically stretched from 30 years to 50 years.
Grant believes we could see this really happen in our lifetime.
A 50-year mortgage would mean people would pile back into housing due to the significant drop in payments.
Inflation in America and the Impact on the Housing Market
“I don’t believe that anybody, any fed or any group within the government can actually manipulate inflation. I don’t know of any time in history where a monetary policy actually removed inflation from the equation. I’ve only been around 64 years though; I’ve seen prices go up the whole time, I’ve never seen prices not go up,” said Grant Cardone when addressing the impact of inflation on the housing market.
And it makes sense.
The housing market has a history of outpacing inflation, which has certainly made it much more difficult for people to buy houses over time.
For the investor however, it means the value of their properties will always rise despite any minor pullback in the market.
The typical homebuyer in the 80s was 25-34 years old whereas in 2000 the typical home buyer was 44.
Rent in America will continue to rise and so will the value of properties, and it seems the fed can only do so much to drive inflation down.
What I got from this important conversation was Americans will need to start playing on the offense.
Source(s): Grant Cardone, Nez Media Company.
American Entrepreneur and Journalist. Frank Nez is the CEO of Nez Media Company and Founder of advertising agency Easy Marketing Concepts.
Amazon plans to start advertising on Twitter again to the tune of about $100 million a year, Platformer journalist Zoë Schiffer tweeted.
According to her tweet, the online retail giant was waiting for “some security tweaks” to Twitter’s ads platform before returning.
The news comes a day after Elon Musk said Apple had “fully resumed” advertising on the platform. Musk later tweeted to “thank advertisers for returning to Twitter.”
Half of Twitter’s top 100 advertisers pulled their spending in the days after Musk took over Twitter, according to research center Media Matters.
They collectively spent $750 million on Twitter ads this year alone and accounted for almost $2 billion of the company’s ad revenue since 2020.
Apple paused its ads on Twitter after a shooting at an LGBTQ nightclub in Colorado Springs last month, which left five people dead and dozens more injured, three sources told The New York Times.
General Motors was one of the first advertisers to announce it was pausing ads on Twitter. The Tesla rival said in October it needed to review the platform under Musk’s leadership. The decision came as a result of GM’s concerns that its Twitter data could be passed on to Tesla, sources told The New York Times.
Amazon Plans to Invest Billions in Movie Theatre Industry
Not only is Amazon resuming advertising on Twitter, but the giant retailer is also planning to invest billions in the movie theatre industry.
Amazon plans to invest more than $1 billion per year into theatrical distribution releases per Bloomberg news.
Amazon.com Inc. will be investing billions of dollars to produce movies that will release in theatres, according to people familiar with the company’s plans.
This is the largest commitment to the movie theatre industry by an internet company, says Bloomberg.
The world’s largest online retailer aims to make between 12 and 15 movies annually that will get a theatrical release.
Amazon is still sorting out this strategy said people who asked not to be identified.
That number of releases puts Amazon on par with major studios such as Paramount Pictures.
Source(s): Yahoo Finance, Bloomberg News, FrankNez
Curated by Nez Media Company.
Follow Nez Media on Twitter and on Facebook.
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