iWorld
Amazon buys Hollywood studio MGM for $8.45 billion
KOLKATA: Content is the engine of the streaming economy. Recognising this, the streamers have been going through a dizzying series of acquisitions and mergers. The latest to do so is tech giant Amazon which has finally signed on the dotted line to buy up Hollywood studio MGM for $8.45 billion. This is its second largest acquisition after it bought Whole Foods for nearly $14 billion in 2017. For the last week or so, speculation was running rife that a deal between the two was on the cards.
MGM has real gems under its brand that movie lovers have voraciously consumed across the world. The studio is behind classics such as Gone with the Wind and Rocky, the famous Bond franchise, Singin’ in the Rain, 12 Angry Men. Its library also includes popular reality TV shows like The Voice and Shark Tank.
“The real financial value behind this deal is the treasure trove of IP in the deep catalog that we plan to reimagine and develop together with MGM’s talented team,” Amazon Studios and Prime Video SVP Mike Hopkins has been quoted as saying in media reports internationally.
Amazon has 200 million prime members worldwide with access to its video service, chief executive jeff Bezos revealed recently. “As Prime Video turns 10, over 175 million Prime members have streamed shows and movies in the past year, and streaming hours are up more than 70 per cent year over year,” he later said in April.
Prime members who watch video have higher free trial conversion rates, higher renewal rates, and higher overall engagement. The company has been ramping up its spend on content , to stay competitive with the fare being churned out by Netflix and Disney and now with the merged Discovery+Warner Media juggernaut.
“I am very proud that MGM’s Lion, which has long evoked the golden age of Hollywood, will continue its storied history, and the idea born from the creation of United Artists lives on in a way the founders originally intended, driven by the talent and their vision. The opportunity to align MGM’s storied history with Amazon is an inspiring combination,” MGM board chairman Kevin Ulrich said in a statement.
eNews
Paisabazaar launches Credit Premier League 2.0
Nationwide campaign rewards highest credit scores with Rs 1 lakh top prize.
MUMBAI: When credit scores become a national league, even your CIBIL report starts feeling like it’s playing in the IPL and Paisabazaar has just kicked off the second season. Paisabazaar, India’s leading marketplace for financial products and the country’s largest free credit score platform, has announced the return of the Credit Premier League (CPL) 2.0, a fun, nationwide initiative to recognise and reward individuals with the highest credit scores.
Building on the success of the first edition, CPL 2.0 introduces higher rewards and broader participation. The individual(s) with the highest credit score in the country will win Rs 1 lakh, while state champions will each receive Rs 10,000. Additionally, all participants from the winning state, the one with the highest average credit score will also be rewarded.
All winnings will be credited directly to winners’ PB Wallet, allowing them to pay credit card bills, recharge mobiles, or settle utility bills seamlessly on the Paisabazaar platform.
Paisabazaar CEO Santosh Agarwal said the campaign aims to make credit awareness more engaging and mainstream. “With CPL, we are bringing together engagement, gamification and rewards to make conversations around credit scores more mainstream,” he noted. “Our focus remains on building a financially aware and credit-healthy Bharat.”
The first edition of CPL saw over 5.5 million participants, with the highest individual score touching 861. Delhi recorded the highest average credit score of 746.
Consumers can participate simply by checking their free credit score on the Paisabazaar platform or app. The CPL leaderboard and rankings will be available exclusively on the Paisabazaar App.
In a country where financial dreams are serious business, Paisabazaar has found a smart way to turn credit scores into an exciting game – because when your financial health gets rewarded, everyone wants to play.
