Ok//@joeyygagner:Noce_老虎社区_美港股上老虎

2021-06-01

Amazon Lost the Early Streaming Battle. It Still Wants to Win the War.<blockquote>亚马逊输掉了早期的流媒体之战。它仍然想赢得战争。</blockquote>

免责声明：上述内容仅代表发帖人个人观点，不构成本平台的任何投资建议。

精彩评论

我们需要你的真知灼见来填补这片空白

发表看法

{"i18n":{"language":"zh_CN"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":119685142,"tweetId":"119685142","gmtCreate":1622542378286,"gmtModify":1631893867557,"author":{"id":3569389977740102,"idStr":"3569389977740102","authorId":3569389977740102,"authorIdStr":"3569389977740102","name":"joeyygagner","avatar":"https://static.tigerbbs.com/c24578f3d3d63a4878915c794351a90a","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":12,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":3,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body>\nOk//<a href=\"https://laohu8.com/U/3569389977740102\">@joeyygagner</a>:Noce</body></html>","htmlText":"<html><head></head><body>\nOk//<a href=\"https://laohu8.com/U/3569389977740102\">@joeyygagner</a>:Noce</body></html>","text":"Ok//@joeyygagner:Noce","highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/119685142","repostId":1170057746,"repostType":4,"repost":{"id":"1170057746","kind":"news","pubTimestamp":1622541141,"share":"https://www.laohu8.com/m/news/1170057746?lang=zh_CN&edition=full","pubTime":"2021-06-01 17:52","market":"us","language":"en","title":"Amazon Lost the Early Streaming Battle. It Still Wants to Win the War.<blockquote>亚马逊输掉了早期的流媒体之战。它仍然想赢得战争。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1170057746","media":"Barrons","summary":"On the surface, Amazon.com’s $8.5 billion deal for MGM Holdings is puzzling. In absolute terms, it’s","content":"On the surface, Amazon.com’s $8.5 billion deal for MGM Holdings is puzzling. In absolute terms, it’s a big acquisition—Amazon’s second-largest ever, behind only its $13.4 billion purchase of Whole Foods in 2017. But MGM doesn’t own an especially compelling set of assets. So why is Amazon paying up?<blockquote>从表面上看，亚马逊85亿美元收购米高梅控股的交易令人费解。从绝对值来看，这是一次重大收购——亚马逊有史以来第二大收购，仅次于2017年以134亿美元收购全食超市。但米高梅并不拥有一系列特别引人注目的资产。那么亚马逊为什么要付钱呢？</blockquote>For one thing, the e-commerce giant (ticker: AMZN) can afford it. With a market value of $1.6 trillion, $9 billion is a drop in the bucket.<blockquote>一方面，这家电子商务巨头（股票代码：AMZN）负担得起。市值1.6万亿美元，90亿美元是杯水车薪。</blockquote>MGM brings a library of 4,000 films and 17,000 TV episodes. The biggest prize is the complete collection of James Bond films—and the right to make more of them. Amazon also gets second-tier franchises, including the&nbsp;Pink Panther, Rocky, RoboCop, Legally Blonde, Tomb Raider, andThe Addams Family.MGM’s TV production arm produces scripted series, such asThe Handmaid’s TaleandFargo, and unscripted shows, such asShark TankandThe Voice. MGM also runs the Epix subscription movie service. As Bernstein analyst Mark Shmulik wrote in a research note this past week, MGM’s library is hardly a game changer. “What would you pay for an MGM+ subscription?” he asks. “Probably not a lot.”<blockquote>米高梅带来了4000部电影和17000集电视剧的图书馆。最大的奖品是詹姆斯·邦德电影的全集——以及制作更多电影的权利。亚马逊还获得了二线特许经营权，包括粉红豹、洛基、机械战警、律政俏佳人、古墓丽影，和亚当斯一家。米高梅的电视制作部门制作脚本连续剧，例如女仆的故事和法戈和无脚本节目，如鲨鱼坦克和声音米高梅还经营Epix订阅电影服务。正如伯恩斯坦分析师马克·什穆利克在上周的一份研究报告中所写的那样，米高梅的图书馆很难改变游戏规则。“您愿意为米高梅+订阅支付多少钱？”他问。“可能不多。”</blockquote>The library was long ago stripped of its most iconic films. In 1986, Ted Turner bought MGM and quickly sold the studio, while keeping the rights to many of its historic movies. Those flicks are now controlled by Turner Classic Movies, part of&nbsp;AT&amp;T’s(T) WarnerMedia. So Amazon won’t get&nbsp;The Wizard of Oz, or&nbsp;Gone With The Wind, or&nbsp;Singin’ in the Rain. (You can watch any of those on HBO Max right now.)<blockquote>图书馆很久以前就被剥夺了最具标志性的电影。1986年，泰德·特纳收购了米高梅公司，并很快出售了工作室，同时保留了许多历史电影的版权。这些电影现在由特纳经典电影公司控制，该公司是AT&amp;T(T)华纳媒体公司的一部分。所以亚马逊不会得到绿野仙踪，或飘，或在雨中歌唱（你现在就可以在HBO Max上观看这些节目。）</blockquote>And yet, there are merits to this deal. It locks up access to some old but familiar content at a time when that’s getting harder to do.Walt Disney(DIS),Comcast’s(CMCSA) NBCUniversal,ViacomCBS(VIAC) and WarnerMedia have all created their own streaming platforms. Over time, they’ll keep their libraries in-house, limiting the content choices for Amazon’s platform.<blockquote>然而，这笔交易也有其优点。在越来越难做到这一点的时候，它会锁定对一些旧但熟悉的内容的访问。华特迪士尼(DIS)、康卡斯特(CMCSA)的NBCUniversal、维亚康姆哥伦比亚广播公司(VIAC)和华纳媒体都创建了自己的流媒体平台。随着时间的推移，他们将把图书馆保留在内部，限制亚马逊平台的内容选择。</blockquote>But now Amazon can play the same game. As Citigroup analyst Jason Bazinet pointed out in a research note last week, MGM produces seven shows for Disney, four for Comcast, four combined for WarnerMedia andDiscovery(DISCA), three for ViacomCBS, and one or two each forNetflix(NFLX),AMC Networks(AMCX), and Fox. Those include some popular shows that could eventually show up on Amazon Prime, including ABC’sShark Tank, NBC’sThe Voice, CBS’sSurvivor, and AMC’sReal Housewives.<blockquote>但现在亚马逊可以玩同样的游戏。正如花旗集团分析师贾森·巴齐内特(Jason Bazinet)上周在一份研究报告中指出的那样，米高梅为迪士尼制作了七部节目，为康卡斯特制作了四部，为华纳媒体和探索频道(DISCA)制作了四部，为维亚康姆哥伦比亚广播公司制作了三部，为Netflix(NFLX)、AMC各制作了一到两部网络（AMCX）和福克斯。其中包括一些最终可能出现在Amazon Prime上的热门节目，包括ABC的鲨鱼坦克，NBC的声音，哥伦比亚广播公司的幸存者，以及AMC的真正的主妇.</blockquote>MGM has been generating about $1.5 billion in annual revenue, but much of that will disappear as licenses expire and Amazon shifts the content to its own platform. For Amazon, the point is to find ways to mine MGM’s library for new content. Maybe the world needs a&nbsp;Mystic Pizzaremake, or a&nbsp;Hot Tub Time Machines&nbsp;equel, or another&nbsp;Weekend at Bernie’s.<blockquote>米高梅的年收入约为15亿美元，但随着许可证到期以及亚马逊将内容转移到自己的平台，其中大部分收入将消失。对亚马逊来说，关键是找到挖掘米高梅图书馆新内容的方法。也许这个世界需要一个神秘披萨翻拍，或热水浴缸时光机等式，或另一个伯尼家的周末.</blockquote>“The acquisition’s thesis here is really very simple,” Jeff Bezos, Amazon’s chairman and its outgoing CEO, said at the company’s annual meeting last week. “MGM has a vast and deep catalog of much beloved intellectual property, and...we can reimagine and develop that IP for the 21st century.”<blockquote>亚马逊董事长兼即将离任的首席执行官杰夫·贝索斯(Elon Musk)上周在公司年会上表示：“此次收购的主题非常简单。”“米高梅拥有广泛而深厚的深受喜爱的知识产权目录，而且……我们可以为21世纪重新构想和开发该知识产权。”</blockquote>MGM hasn’t had the resources to do that on its own—the company has spent just $6 billion on new and acquired content since 2011, an almost trivial amount in the new world of streaming. Amazon spent $11 billion on movie, TV, and music content in 2020, up from $7.8 billion in 2019—and the total keeps growing, including a new 10-year deal to airThursday Night Footballfor a reported $1 billion annually. Netflix expects to spend $17 billion on content this year alone. Disney says its content spending will reach $16 billion annually by 2024. Discovery and AT&amp;T’s WarnerMedia expect to spend $20 billion a year on content once their merger closes.<blockquote>米高梅自己没有资源来做到这一点——自2011年以来，该公司在新内容和收购内容上仅花费了60亿美元，这在新的流媒体世界中几乎是微不足道的。2020年，亚马逊在电影、电视和音乐内容上的支出为110亿美元，高于2019年的78亿美元，而且总额还在持续增长，其中包括一项新的10年播出协议周四足球之夜据报道，每年10亿美元。Netflix预计仅今年就将在内容上花费170亿美元。迪士尼表示，到2024年，其内容支出将达到每年160亿美元。Discovery和AT&amp;T旗下的WarnerMedia预计合并完成后每年将在内容上花费200亿美元。</blockquote>Ultimately, Amazon will have more than one way to squeeze value out of MGM. More content should boost the appeal of Amazon Prime Video, which could reduce churn for Amazon Prime customers, and, thus, spur more online shopping.<blockquote>最终，亚马逊将有不止一种方式从米高梅身上榨取价值。更多的内容应该会增加亚马逊Prime视频的吸引力，这可能会减少亚马逊Prime客户的流失，从而刺激更多的在线购物。</blockquote>Amazon also operates an advertising-supported on-demand video service called IMDB.TV, which needs catalog content to survive. And then there’s Amazon Fire, the streaming video platform that competes with&nbsp;Roku(ROKU); it could fill multiple new streaming channels with MGM content. One could imagine Amazon creatively mining its new trove to create not just new movies, but also television series, games, and podcasts, while loading up IMDB.TV with deep catalog content, such asTank Girl,Rollerball, andBio-Dome.<blockquote>亚马逊还运营着一项名为IMDB.TV的广告支持的点播视频服务，该服务需要目录内容才能生存。然后是与Roku（Roku）竞争的流媒体视频平台Amazon Fire；它可以用米高梅的内容填充多个新的流媒体频道。人们可以想象亚马逊创造性地挖掘其新宝藏，不仅创作新电影，还创作电视剧、游戏和播客，同时在IMDB.TV上加载深度目录内容，例如坦克女孩,滚珠，和生物穹顶.</blockquote>Lightshed Partners analyst Rich Greenfield told me this past week that there is “a war for time and attention...and MGM owns a lot of IP.” Greenfield says that Amazon has spent a lot of money on movies and television content in recent years without a lot to show for it in terms of “high-profile, visible hits.” The additional properties from MGM, he says, gives the company more opportunities to improve its streaming performance.<blockquote>Lightshed Partners分析师里奇·格林菲尔德(Rich Greenfield)上周告诉我，“这是一场争夺时间和注意力的战争……米高梅拥有大量知识产权。”格林菲尔德表示，亚马逊近年来在电影和电视内容上投入了大量资金，但在“高调、可见的点击量”方面却没有太多表现。他表示，米高梅的额外房产为该公司提供了更多提高流媒体性能的机会。</blockquote>Netflix might have&nbsp;The Queen’s Gambit&nbsp;but just imagine what James Bond could do with a chess board.<blockquote>Netflix可能有女王的策略但是想象一下詹姆斯·邦德能用棋盘做什么。</blockquote>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Amazon Lost the Early Streaming Battle. It Still Wants to Win the War.<blockquote>亚马逊输掉了早期的流媒体之战。它仍然想赢得战争。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAmazon Lost the Early Streaming Battle. It Still Wants to Win the War.<blockquote>亚马逊输掉了早期的流媒体之战。它仍然想赢得战争。</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nBarrons2021-06-01 17:52\n\n</h4>\n</header>\n<article>\nOn the surface, Amazon.com’s $8.5 billion deal for MGM Holdings is puzzling. In absolute terms, it’s a big acquisition—Amazon’s second-largest ever, behind only its $13.4 billion purchase of Whole Foods in 2017. But MGM doesn’t own an especially compelling set of assets. So why is Amazon paying up?<blockquote>从表面上看，亚马逊85亿美元收购米高梅控股的交易令人费解。从绝对值来看，这是一次重大收购——亚马逊有史以来第二大收购，仅次于2017年以134亿美元收购全食超市。但米高梅并不拥有一系列特别引人注目的资产。那么亚马逊为什么要付钱呢？</blockquote>For one thing, the e-commerce giant (ticker: AMZN) can afford it. With a market value of $1.6 trillion, $9 billion is a drop in the bucket.<blockquote>一方面，这家电子商务巨头（股票代码：AMZN）负担得起。市值1.6万亿美元，90亿美元是杯水车薪。</blockquote>MGM brings a library of 4,000 films and 17,000 TV episodes. The biggest prize is the complete collection of James Bond films—and the right to make more of them. Amazon also gets second-tier franchises, including the&nbsp;Pink Panther, Rocky, RoboCop, Legally Blonde, Tomb Raider, andThe Addams Family.MGM’s TV production arm produces scripted series, such asThe Handmaid’s TaleandFargo, and unscripted shows, such asShark TankandThe Voice. MGM also runs the Epix subscription movie service. As Bernstein analyst Mark Shmulik wrote in a research note this past week, MGM’s library is hardly a game changer. “What would you pay for an MGM+ subscription?” he asks. “Probably not a lot.”<blockquote>米高梅带来了4000部电影和17000集电视剧的图书馆。最大的奖品是詹姆斯·邦德电影的全集——以及制作更多电影的权利。亚马逊还获得了二线特许经营权，包括粉红豹、洛基、机械战警、律政俏佳人、古墓丽影，和亚当斯一家。米高梅的电视制作部门制作脚本连续剧，例如女仆的故事和法戈和无脚本节目，如鲨鱼坦克和声音米高梅还经营Epix订阅电影服务。正如伯恩斯坦分析师马克·什穆利克在上周的一份研究报告中所写的那样，米高梅的图书馆很难改变游戏规则。“您愿意为米高梅+订阅支付多少钱？”他问。“可能不多。”</blockquote>The library was long ago stripped of its most iconic films. In 1986, Ted Turner bought MGM and quickly sold the studio, while keeping the rights to many of its historic movies. Those flicks are now controlled by Turner Classic Movies, part of&nbsp;AT&amp;T’s(T) WarnerMedia. So Amazon won’t get&nbsp;The Wizard of Oz, or&nbsp;Gone With The Wind, or&nbsp;Singin’ in the Rain. (You can watch any of those on HBO Max right now.)<blockquote>图书馆很久以前就被剥夺了最具标志性的电影。1986年，泰德·特纳收购了米高梅公司，并很快出售了工作室，同时保留了许多历史电影的版权。这些电影现在由特纳经典电影公司控制，该公司是AT&amp;T(T)华纳媒体公司的一部分。所以亚马逊不会得到绿野仙踪，或飘，或在雨中歌唱（你现在就可以在HBO Max上观看这些节目。）</blockquote>And yet, there are merits to this deal. It locks up access to some old but familiar content at a time when that’s getting harder to do.Walt Disney(DIS),Comcast’s(CMCSA) NBCUniversal,ViacomCBS(VIAC) and WarnerMedia have all created their own streaming platforms. Over time, they’ll keep their libraries in-house, limiting the content choices for Amazon’s platform.<blockquote>然而，这笔交易也有其优点。在越来越难做到这一点的时候，它会锁定对一些旧但熟悉的内容的访问。华特迪士尼(DIS)、康卡斯特(CMCSA)的NBCUniversal、维亚康姆哥伦比亚广播公司(VIAC)和华纳媒体都创建了自己的流媒体平台。随着时间的推移，他们将把图书馆保留在内部，限制亚马逊平台的内容选择。</blockquote>But now Amazon can play the same game. As Citigroup analyst Jason Bazinet pointed out in a research note last week, MGM produces seven shows for Disney, four for Comcast, four combined for WarnerMedia andDiscovery(DISCA), three for ViacomCBS, and one or two each forNetflix(NFLX),AMC Networks(AMCX), and Fox. Those include some popular shows that could eventually show up on Amazon Prime, including ABC’sShark Tank, NBC’sThe Voice, CBS’sSurvivor, and AMC’sReal Housewives.<blockquote>但现在亚马逊可以玩同样的游戏。正如花旗集团分析师贾森·巴齐内特(Jason Bazinet)上周在一份研究报告中指出的那样，米高梅为迪士尼制作了七部节目，为康卡斯特制作了四部，为华纳媒体和探索频道(DISCA)制作了四部，为维亚康姆哥伦比亚广播公司制作了三部，为Netflix(NFLX)、AMC各制作了一到两部网络（AMCX）和福克斯。其中包括一些最终可能出现在Amazon Prime上的热门节目，包括ABC的鲨鱼坦克，NBC的声音，哥伦比亚广播公司的幸存者，以及AMC的真正的主妇.</blockquote>MGM has been generating about $1.5 billion in annual revenue, but much of that will disappear as licenses expire and Amazon shifts the content to its own platform. For Amazon, the point is to find ways to mine MGM’s library for new content. Maybe the world needs a&nbsp;Mystic Pizzaremake, or a&nbsp;Hot Tub Time Machines&nbsp;equel, or another&nbsp;Weekend at Bernie’s.<blockquote>米高梅的年收入约为15亿美元，但随着许可证到期以及亚马逊将内容转移到自己的平台，其中大部分收入将消失。对亚马逊来说，关键是找到挖掘米高梅图书馆新内容的方法。也许这个世界需要一个神秘披萨翻拍，或热水浴缸时光机等式，或另一个伯尼家的周末.</blockquote>“The acquisition’s thesis here is really very simple,” Jeff Bezos, Amazon’s chairman and its outgoing CEO, said at the company’s annual meeting last week. “MGM has a vast and deep catalog of much beloved intellectual property, and...we can reimagine and develop that IP for the 21st century.”<blockquote>亚马逊董事长兼即将离任的首席执行官杰夫·贝索斯(Elon Musk)上周在公司年会上表示：“此次收购的主题非常简单。”“米高梅拥有广泛而深厚的深受喜爱的知识产权目录，而且……我们可以为21世纪重新构想和开发该知识产权。”</blockquote>MGM hasn’t had the resources to do that on its own—the company has spent just $6 billion on new and acquired content since 2011, an almost trivial amount in the new world of streaming. Amazon spent $11 billion on movie, TV, and music content in 2020, up from $7.8 billion in 2019—and the total keeps growing, including a new 10-year deal to airThursday Night Footballfor a reported $1 billion annually. Netflix expects to spend $17 billion on content this year alone. Disney says its content spending will reach $16 billion annually by 2024. Discovery and AT&amp;T’s WarnerMedia expect to spend $20 billion a year on content once their merger closes.<blockquote>米高梅自己没有资源来做到这一点——自2011年以来，该公司在新内容和收购内容上仅花费了60亿美元，这在新的流媒体世界中几乎是微不足道的。2020年，亚马逊在电影、电视和音乐内容上的支出为110亿美元，高于2019年的78亿美元，而且总额还在持续增长，其中包括一项新的10年播出协议周四足球之夜据报道，每年10亿美元。Netflix预计仅今年就将在内容上花费170亿美元。迪士尼表示，到2024年，其内容支出将达到每年160亿美元。Discovery和AT&amp;T旗下的WarnerMedia预计合并完成后每年将在内容上花费200亿美元。</blockquote>Ultimately, Amazon will have more than one way to squeeze value out of MGM. More content should boost the appeal of Amazon Prime Video, which could reduce churn for Amazon Prime customers, and, thus, spur more online shopping.<blockquote>最终，亚马逊将有不止一种方式从米高梅身上榨取价值。更多的内容应该会增加亚马逊Prime视频的吸引力，这可能会减少亚马逊Prime客户的流失，从而刺激更多的在线购物。</blockquote>Amazon also operates an advertising-supported on-demand video service called IMDB.TV, which needs catalog content to survive. And then there’s Amazon Fire, the streaming video platform that competes with&nbsp;Roku(ROKU); it could fill multiple new streaming channels with MGM content. One could imagine Amazon creatively mining its new trove to create not just new movies, but also television series, games, and podcasts, while loading up IMDB.TV with deep catalog content, such asTank Girl,Rollerball, andBio-Dome.<blockquote>亚马逊还运营着一项名为IMDB.TV的广告支持的点播视频服务，该服务需要目录内容才能生存。然后是与Roku（Roku）竞争的流媒体视频平台Amazon Fire；它可以用米高梅的内容填充多个新的流媒体频道。人们可以想象亚马逊创造性地挖掘其新宝藏，不仅创作新电影，还创作电视剧、游戏和播客，同时在IMDB.TV上加载深度目录内容，例如坦克女孩,滚珠，和生物穹顶.</blockquote>Lightshed Partners analyst Rich Greenfield told me this past week that there is “a war for time and attention...and MGM owns a lot of IP.” Greenfield says that Amazon has spent a lot of money on movies and television content in recent years without a lot to show for it in terms of “high-profile, visible hits.” The additional properties from MGM, he says, gives the company more opportunities to improve its streaming performance.<blockquote>Lightshed Partners分析师里奇·格林菲尔德(Rich Greenfield)上周告诉我，“这是一场争夺时间和注意力的战争……米高梅拥有大量知识产权。”格林菲尔德表示，亚马逊近年来在电影和电视内容上投入了大量资金，但在“高调、可见的点击量”方面却没有太多表现。他表示，米高梅的额外房产为该公司提供了更多提高流媒体性能的机会。</blockquote>Netflix might have&nbsp;The Queen’s Gambit&nbsp;but just imagine what James Bond could do with a chess board.<blockquote>Netflix可能有女王的策略但是想象一下詹姆斯·邦德能用棋盘做什么。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.barrons.com/articles/amazon-mgm-streaming-51622241583?mod=hp_DAY_Theme_2_1\">Barrons</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MGM":"美高梅","AMZN":"亚马逊"},"source_url":"https://www.barrons.com/articles/amazon-mgm-streaming-51622241583?mod=hp_DAY_Theme_2_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170057746","content_text":"On the surface, Amazon.com’s $8.5 billion deal for MGM Holdings is puzzling. In absolute terms, it’s a big acquisition—Amazon’s second-largest ever, behind only its $13.4 billion purchase of Whole Foods in 2017. But MGM doesn’t own an especially compelling set of assets. So why is Amazon paying up?For one thing, the e-commerce giant (ticker: AMZN) can afford it. With a market value of $1.6 trillion, $9 billion is a drop in the bucket.MGM brings a library of 4,000 films and 17,000 TV episodes. The biggest prize is the complete collection of James Bond films—and the right to make more of them. Amazon also gets second-tier franchises, including the Pink Panther, Rocky, RoboCop, Legally Blonde, Tomb Raider, andThe Addams Family.MGM’s TV production arm produces scripted series, such asThe Handmaid’s TaleandFargo, and unscripted shows, such asShark TankandThe Voice. MGM also runs the Epix subscription movie service. As Bernstein analyst Mark Shmulik wrote in a research note this past week, MGM’s library is hardly a game changer. “What would you pay for an MGM+ subscription?” he asks. “Probably not a lot.”The library was long ago stripped of its most iconic films. In 1986, Ted Turner bought MGM and quickly sold the studio, while keeping the rights to many of its historic movies. Those flicks are now controlled by Turner Classic Movies, part of AT&T’s(T) WarnerMedia. So Amazon won’t get The Wizard of Oz, or Gone With The Wind, or Singin’ in the Rain. (You can watch any of those on HBO Max right now.)And yet, there are merits to this deal. It locks up access to some old but familiar content at a time when that’s getting harder to do.Walt Disney(DIS),Comcast’s(CMCSA) NBCUniversal,ViacomCBS(VIAC) and WarnerMedia have all created their own streaming platforms. Over time, they’ll keep their libraries in-house, limiting the content choices for Amazon’s platform.But now Amazon can play the same game. As Citigroup analyst Jason Bazinet pointed out in a research note last week, MGM produces seven shows for Disney, four for Comcast, four combined for WarnerMedia andDiscovery(DISCA), three for ViacomCBS, and one or two each forNetflix(NFLX),AMC Networks(AMCX), and Fox. Those include some popular shows that could eventually show up on Amazon Prime, including ABC’sShark Tank, NBC’sThe Voice, CBS’sSurvivor, and AMC’sReal Housewives.MGM has been generating about $1.5 billion in annual revenue, but much of that will disappear as licenses expire and Amazon shifts the content to its own platform. For Amazon, the point is to find ways to mine MGM’s library for new content. Maybe the world needs a Mystic Pizzaremake, or a Hot Tub Time Machines equel, or another Weekend at Bernie’s.“The acquisition’s thesis here is really very simple,” Jeff Bezos, Amazon’s chairman and its outgoing CEO, said at the company’s annual meeting last week. “MGM has a vast and deep catalog of much beloved intellectual property, and...we can reimagine and develop that IP for the 21st century.”MGM hasn’t had the resources to do that on its own—the company has spent just $6 billion on new and acquired content since 2011, an almost trivial amount in the new world of streaming. Amazon spent $11 billion on movie, TV, and music content in 2020, up from $7.8 billion in 2019—and the total keeps growing, including a new 10-year deal to airThursday Night Footballfor a reported $1 billion annually. Netflix expects to spend $17 billion on content this year alone. Disney says its content spending will reach $16 billion annually by 2024. Discovery and AT&T’s WarnerMedia expect to spend $20 billion a year on content once their merger closes.Ultimately, Amazon will have more than one way to squeeze value out of MGM. More content should boost the appeal of Amazon Prime Video, which could reduce churn for Amazon Prime customers, and, thus, spur more online shopping.Amazon also operates an advertising-supported on-demand video service called IMDB.TV, which needs catalog content to survive. And then there’s Amazon Fire, the streaming video platform that competes with Roku(ROKU); it could fill multiple new streaming channels with MGM content. One could imagine Amazon creatively mining its new trove to create not just new movies, but also television series, games, and podcasts, while loading up IMDB.TV with deep catalog content, such asTank Girl,Rollerball, andBio-Dome.Lightshed Partners analyst Rich Greenfield told me this past week that there is “a war for time and attention...and MGM owns a lot of IP.” Greenfield says that Amazon has spent a lot of money on movies and television content in recent years without a lot to show for it in terms of “high-profile, visible hits.” The additional properties from MGM, he says, gives the company more opportunities to improve its streaming performance.Netflix might have The Queen’s Gambit but just imagine what James Bond could do with a chess board.","news_type":1,"symbols_score_info":{"MGM":0.9,"AMZN":0.9}},"isVote":1,"tweetType":1,"viewCount":484,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":21,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/119685142"}