Few key things happened around the Ad Tech & Media Tech world this week
Movies on streaming platforms can compete for Oscar: says Academy of Motion Pictures
As the uncertainty continues due to pandemics, the Oscar event which was planned for February 27 will be held on March 27, 2022. Organizers also added that movies released on streaming platforms can compete for Academy Awards. This is going to happen for a second time, with some restrictions. Only movies which had planned early for theatrical release are eligible for Academy Awards. For the past year, lots of movies are released on streaming players like Amazon, Netflix, Disney+, etc due to the shutting down of movie theaters around the world. Now this move of Oscar organizers will urge studios to have more releases on streaming players.
Streaming giant, Amazon acquired MGM for $8.45 billion
Streaming player, Amazon made a big move by announcing the acquisition of MGM studios that owns a library of content for $ 8.45 billion. MGM is a famous Hollywood studio that is home to classic James Bond movies and film productions like Rocky, Tomb Raider, etc. Amazon described MGM as a “vast catalog” of more than 4000 films and 17000 TV shows. MGM’s vast library of content ranges from classic movies like 12 Angry Men, Thelma, and Louise, Midnight Cowboy, Dances with wolves, etc to original TV shows like The Handmaid’s Tale, Vikings, Fargo, etc. Mike Hopkins, senior vice president of Prime Video and Amazon Studios, expressed in a statement that “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 finds this deal worthwhile as it provides access to vast MGM contents to its existing subscriber’s and will also result in more subscriptions which in turn helps Amazon ramping up the competition led by streaming rivals like Netflix, Disney, etc.
Graduations, concerts & Recitals, weddings, and even more are going live! Local live-streaming business booming
The concept of Live streaming is gaining popularity for the past few months. Amidst Covid concerns, Social distancing restricts people from getting connected. People were forced to either cancel or postpone their graduations, concerts, weddings, and many more. As the pandemic is on the rise, people started seeing Live streaming as the new way to celebrate major events in their life. Live streaming gives viewers the feeling that what they are seeing is happening right there in their front. As Covid protocols put restrictions on the number of people to attend ceremonies like weddings, funerals, graduations, etc, live streaming enables sharing these events with those who are unable to attend. Jonathan Edwards, Owner of 570 Drone, award-winning videographer comment on Livestreaming shows the wide opportunities for businesses. “Live-streaming is certainly the longer term. it’s something he’s been doing and investing certain years, but he said as more and more people realize it’s an option, they’re choosing it and are grateful for it. “These one-time special events people are really grateful they will see it, so I’ve gotten tons of messages and emails and phone calls telling me how wonderful it had been, they loved it, so I appreciate that,” said Edwards.