Netflix Less Inclined To Get Into Merger-And-Acquisition Game, Does Not Rule It Out
Netflix has traditionally been less inclined to get involved in the merger and acquisitions field than other companies in the streaming space have been involved in over the past several years, however, it has not ruled the option out.
During the Q2 2021 Investor Interview on Tuesday, company officials did talk a bit about the type of company that would catch their attention.
Spencer Wang, Vice President, Finance/Investor Relations and Corporate Development at Netflix, pointed out that while not mentioning any specific opportunities or targets, Netflix keeps an eye out for ways to help accelerate the growth of their business in analyzing any sort of potential merger or acquisition.
“We’ve said in the past that we’re open to assets that can help accelerate our growth,” Wang said. “Things like intellectual property that we can develop into series and movies. In addition, film and TV libraries can be interesting as well. We’ll see on the gaming side.”
While Netflix has remained reserved on that front so far, in late May, one of its competitors, Amazon entered into an agreement to acquire MGM for $8.45 billion.
MGM has nearly a century of filmmaking history and complements the work of Amazon Studios, which has primarily focused on producing TV show programming. Through this acquisition, Amazon would empower MGM to continue to do what they do best: great storytelling.
That deal, of course, was eclipsed by the mammoth deal between Warner Bros. and Discovery, bringing together nearly 200,000 hours of iconic programming across popular brands such as HBO, Warner Bros., Discovery, DC Comics, CNN, WB Games, Turner Sports, Cartoon Network, HGTV, Food Network, TNT, TBS, TCM, Wizarding World, Adult Swim, Eurosport, Magnolia, TLC, Animal Planet, ID, and many more.
And in April 2021, Spanish language broadcasters Univision and Televisa announced a huge merger deal that will bring together an expansive library and more Spanish language original content than any other streaming service.