Amazon, MGM, and the Triumph of New Hollywood
Too Long; Didn't Read
Amazon is reportedly negotiating to buy MGM for $9 billion. The acquisition would add more than 4,000 MGM movie titles to Amazon’s burgeoning film library. Amazon has emerged as an important player in New Hollywood, which is led by the major streaming operations including Amazon, Disney+. and Netflix. The New Hollywood giants are getting more competitive as the fight for subscribers intensifies. New Hollywood will feast off Old Hollywood by buying titles from Old Hollywood studios, as they did in 2020 – which is essentially what Amazon is doing at scale.