Recently Amazon has bought the MGM production company for 8.45 billion dollars. This allows amazon the ownership of movie series like James Bond and T.V series like Shark Tank. It is interesting to see Amazon spreading their branches to various industries. This move could greatly benefit the Amazon Prime Video platform. Netflix is at the moment the king of the online streaming world, but Amazon is not far behind. According to an online source, Netflix has about 180 million paid subscribers and Prime Video as almost 150 million. This move allows Amazon to be able to provide access to many more movies that they have now been allowed access to.
Amazon has been trying to enter almost all industries present in the world today. Whether it is the supermarket industry with Wholefoods or even the media with Washington Post, Amazon or more specifically, Jeff Bezos is present. It is a very interesting long term plan, that he hopes to build with his empire. He is trying to get into as many markets as possible to increase his hold over the average consumer and increase the power of his companies in countries around the world. He also buys other competing companies and sometimes these companies die. This is the perfect opportunity for him to use their audience as his own. This happened to an app that Bezos bought; Tapzo, an online payment platform in India. This company shut down in 2018, asking their users to shift to Amazon Pay and use that as the payment method to purchase Amazon products.
In the next decade or so, we can see such companies take over their industries and monopolise the market. We can see this with social media giant Facebook as well. The company bought most of their competitors, therefore, leading the market. We are also noticing the clashes they are now having with the governments as they grow bigger. Soon, these companies will have larger stakes in the running of a nation due to the dependency on the platform and services that these companies provide.