Lovefilm acquires MGM films

MGM, the major studio film distributor, may be a in a load of financial trouble at the moment, but they still made time to sign a contract with Lovefilm allowing their film archive to become part of the live streaming service.

Lovefilm has spent the last few months building its film collection for the online streaming rental service by making deals with Sony and Samsung so that consumers can stream their on-demand movie selection straight through home televisions.

The MGM deal proves that Lovefilm is working on building up its VoD library with 4,100 movies available currently for viewers to instantly demand and view.

This should help out MGM, which is in the middle of a financial jungle that has forced the major studio to place indefinite halts on The Hobbit and James Bond franchise films.

MGM also signed a new deal with ITV HD earlier in August that will allow ITV to show the entire James Bond franchise on their channel in HD.

For Lovefilm, this is one of their largest partnerships yet over its six year life.  Its last great deal happened two years ago when it partnered up with Amazon so that it could win its DVD rental service within the UK borders.

CEO of Lovefilm, Simon Calver, stated that the company is delighted that MGM has agreed to make its content available to the rental service and stated that their library will be a great addition to what the company has to offer consumers.