|FAANG sees no value in buying big media|
All of these recent deals have left FAANG noticeably out of the mix. While there has been speculation for years about when big tech would make substantial plays for traditional media targets, its become clear they might not need to make any big acquisition to achieve their goals.
Take Netflix. N has built its current empire largely from scratch, buying rights deals for cable shows and, more recently, leading the industry in originally produced content. Amazon, on the other hand, has re-upped it NFL streaming rights along with that of English soccer. It has also increased its original scripted series and movies, and streaming the back catalogs of other networks. Although lagging Netflix, which is said to be spending over $12.6 billion on non-sports content this year - it plans to end the year with 1,000 original movies and series including 470 that will debut in the second half of the year.
Also, in thinking about the situation, there isn't much left to buy. The old way of doing business - studios produce content and try to sell it to networks, which in turn monetize them in as many ways, on as many outlets as possible - is fading away faster then most expected. Amazon and Netflix don't sell content to networks, they use it on their direct-to-consumer services.
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The media industry is very consolidated and the tech giants don't have much interest in buying legacy media companies - they would rather invest and build-out content and programming. If otherwise, the deals would have already been made.
So, I believe FAANG will go on its merry way and leave the fighting to the big media and communications companies which will have problems integrating and monetizing themselves.