How MGM Helps Transform Amazon Prime Video

Amazon (NASDAQ: AMZN) made its second multibillion-dollar investment in streaming content of the year with the acquisition of MGM Studios for $8.45 billion. The deal follows Amazon's renewed partnership with the NFL for exclusive rights to an expanded Thursday Night Football schedule, starting with the 2022 season, which will cost about $1 billion per year.

After spending $11 billion on content across its Prime Video, Prime Music, and transactional video-on-demand service in 2020, Amazon's quickly catching up to the industry giants like Netflix and Walt Disney. It's all part of a strategy to transform Prime Video from a Prime add on to a must-have streaming service.

Image source: Getty Images.

Continue reading

Source Fool.com