With mega-corporations like Disney, Netflix, Apple, and Amazon trying to dominate the streaming space, content is key. And we’ve seen just how exclusive content has led to these companies snatching up rival studios whenever possible, such as Disney purchasing Fox and Amazon recently landing MGM. So, if you’re a studio with strong content, there’s likely a buyer—the only question is, “How much?” Well, in the case of A24, it appears the indie darling studio is looking for a buyout in the billions. Yes, with a ‘b.’
According to a recent report from Variety, it appears that A24, the studio behind a ton of indie films that have gone on to garner awards and universal acclaim, has been exploring the idea of a sale if the price is right. What price might that be? Well, A24 is said to be looking for a suitor willing to spend $2.5 billion to $3 billion on the studio.
While that may seem like a lot of cash, at first glance, it doesn’t seem all that crazy when you think about the context of what has been happening in Hollywood. The aforementioned deal between MGM and Amazon is said to be worth $8.6 billion, which shocked a ton of pundits when it was announced as it seemed like the tech company was overpaying for the historic library. While A24 doesn’t have the quantity of titles that MGM does, the indie studio has plenty of quality and continues to make films and TV shows that consistently earn awards recognition. (We’re talking films such as “Moonlight,” “Uncut Gems,” “The Florida Project,” “The Farewell,” “Eighth Grade,” and many, many more. Not to mention their TV series such as “Ramy” and “Euphoria.”) If you’re Apple, Netflix, or Amazon (let’s be real, Disney probably isn’t interested), having a hit machine like A24 under your umbrella is definitely not a bad thing.
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But is it worth $3 billion? That’s the key question that has yet to be answered. The Variety report claims A24 isn’t actively pursuing a sale as a top priority, but the feelers are out there. So, don’t be surprised if we see a massive purchase down the line from a major studio trying to earn some quick legitimacy and acclaim. (I mean, Apple already has a deal with A24, and the tech company has money to spend…)