So, you want to own a piece of the roaring lion? It’s a classic move. Everyone knows the logo, the James Bond theme, and that golden age Hollywood glamour. But if you’re pulling up your brokerage app and typing in "Metro Goldwyn Mayer stock," you’re going to hit a bit of a wall.
Honestly, the story of MGM’s "stock" is kind of a wild ride through corporate bankruptcies, massive tech buyouts, and a whole lot of confusion with a certain casino company.
Here is the deal: Metro-Goldwyn-Mayer—the legendary movie studio—is no longer a public company. You can’t buy shares of it on the New York Stock Exchange or the Nasdaq. Not directly, anyway. If you see a ticker symbol "MGM" flashing green or red on your screen right now, you’re looking at MGM Resorts International, which is a totally different beast.
The big Amazon disappearing act
The reason you can’t find Metro Goldwyn Mayer stock today is basically because of Jeff Bezos.
Back in March 2022, Amazon closed a massive $8.45 billion deal to buy MGM. They didn’t just buy a stake; they swallowed the whole thing. By October 2023, Amazon finished the job by folding MGM Holdings into its own studio division, rebranding the entire mess as Amazon MGM Studios.
Because Amazon is a private-sector titan that owns everything from your doorbell camera to your dog’s kibble, they didn't keep MGM as a separate stock. They took it "off the board."
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If you want to invest in the studio that owns Rocky, RoboCop, and Legally Blonde, you have to buy AMZN. You’re buying the cloud computing, the cardboard boxes, and the roaring lion all in one package. It’s like wanting to buy a specific brand of cereal but having to buy the entire grocery store instead.
The "MGM" ticker confusion (Don't make this mistake)
I see this happen all the time. An investor gets excited about a new James Bond announcement and rushes to buy "MGM" stock.
Wait.
The ticker symbol MGM belongs to MGM Resorts International. They own the Bellagio, the MGM Grand in Vegas, and a huge chunk of the sports betting world through BetMGM.
- MGM Resorts (Ticker: MGM): Casinos, hotels, gambling.
- Amazon (Ticker: AMZN): This is where the movie studio lives now.
The two companies haven't been officially related in decades. They share a name and a logo because of a complicated history of spinoffs and sales that happened long before streaming was even a thing. If you buy the "MGM" ticker thinking you’re getting the rights to Creed III, you’re actually betting on slot machine revenue and hotel occupancy rates on the Las Vegas Strip.
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Is the movie library actually worth anything to investors?
Investors used to obsess over the "MGM library." It’s one of the deepest catalogs in Hollywood history, with over 4,000 films.
But there’s a catch that most people get wrong. MGM doesn't actually own The Wizard of Oz or Gone with the Wind.
Wait, what?
Yeah, it’s weird. Ted Turner (of CNN fame) bought the pre-1986 MGM library years ago. That library eventually ended up with Warner Bros. Discovery. So, while the lion roars at the start of those movies, the actual money from those classics goes to Warner, not Amazon.
What Amazon did get for their $8.45 billion was the modern stuff:
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- The James Bond franchise (though they share control with the Broccoli family).
- The Rocky and Creed universe.
- A massive TV production wing (The Handmaid’s Tale, Fargo).
- The "Stargate" IP.
For Amazon, the value isn't in selling these movies to other people. It’s about keeping you subscribed to Prime. If you own Amazon stock, you’re betting that the MGM library is a "moat" that stops people from canceling their $139-a-year membership.
How the studio is doing in 2026
Looking at the numbers now, Amazon MGM Studios is a major pillar of Amazon's advertising and subscription business. In late 2025, Amazon's ad revenue—driven heavily by those "limited commercials" they started running on Prime Video—hit over $60 billion annually.
MGM is a huge part of that. They recently announced a $1 billion theatrical slate for 2026, aiming to release around 20 films a year.
This is a big shift. For a long time, MGM was just a "zombie studio" that lived off licensing old clips. Now, under Amazon, it's actually making big-budget movies again. They even joined the Motion Picture Association (MPA) in late 2024, officially sitting at the table with the big boys like Disney and Universal.
The "backdoor" ways to invest
Since you can't buy Metro Goldwyn Mayer stock directly, you've got a couple of options if you're determined to follow the money:
- Amazon (AMZN): The obvious choice. You get the studio, but it’s a tiny fraction of the overall company. If AWS (their cloud business) has a bad quarter, it won't matter if MGM wins ten Oscars; the stock will still drop.
- Alliance Entertainment (AENT): This is a niche one. In early 2026, Alliance was named the exclusive physical media distributor for Amazon MGM Studios in North America. If you think people are still going to buy 4K Blu-rays of James Bond or Warhammer 40,000 series, this is a smaller, more direct play on the MGM catalog’s physical sales.
- Warner Bros. Discovery (WBD): If you actually want the "classic" MGM stuff (the technicolor musicals and the 1939 masterpieces), this is where that revenue actually flows.
Actionable steps for your portfolio
If you’re looking to play the entertainment space, don't just chase a famous logo.
- Check the Parent Company: Always verify who owns the IP. Amazon owns the "new" MGM; Warner owns the "old" MGM.
- Watch the "Bond" Factor: Keep an eye on the next James Bond casting. The 007 franchise is the crown jewel of the MGM assets. When a new actor is announced, it usually triggers a wave of "Amazon is the new Hollywood" hype in the financial press.
- Diversify your Content Plays: If you want exposure to movie studios, consider an ETF like PEJ (Invesco Leisure and Entertainment) rather than trying to pick a single winner in a world where tech giants now own the legendary studios.
The era of independent movie studio stocks is basically over. The lions have all been tamed by the tech titans.