It has yet to be decided, however, how long theaters will have an exclusive window on the MGM movies that have yet to debut and if they will align with the 45 days that most studios have embraced during the pandemic. In the case of MGM, many of the movies that are in the works will have some form of exclusive theatrical release because that was part of their contractual agreements. Under Jennifer Salke, Amazon has more aggressively emphasized streaming, with films such as “Being the Ricardos” and “Coming 2 America” debuting on Prime. When Amazon started making its own in-house films, it initially embraced traditional theatrical distribution. Amazon and Apple are perhaps the only two streaming combatants who have the luxury of knowing that “the content and entertainment are not the principal sources of revenue - not by a long shot,” said Newman. But Amazon’s fortunes don’t rise and fall based on its entertainment business. Wall Street has paid heavy attention to the number of consumers taking out new subscriptions to venues like Disney Plus, Peacock, Netflix and Paramount Plus. “While the MGM name is legendary, I don’t know what the brand means to people under a certain age,” he said.Īmazon is likely not to be as interested in traditional means of distribution that don’t lend some boost to its broader commerce business, and is likely to focus heavily on marquee projects that will get consumers to keep a connection to the company through a Prime subscription.Īmazon is betting on MGM to help it move forward in Hollywood’s streaming wars, in which victory hinges on attracting new subscribers, then keeping them as big entertainment projects ebb and flow. Over time, suggested Newman, the MGM library will be used to drive Amazon’s broader relationship with consumers, who already use the company to buy books, music, household goods and more. The series wrapped up Daniel Craig’s acclaimed run last year with “No Time to Die” and the keepers of 007 must now find a new actor to handle the role and to help continue to find ways to make the womanizing spy relevant in a changed world.īeyond Bond, there are other ways that Amazon can get its money’s worth. Of course, Bond also is in a period of transition. Purists may not like that, but you know what, those purists are on their way out.” “In order to unlock its true potential though, there need to be TV shows and other ancillary properties. “Hollywood is crazy over IP right now and Bond is one of the biggest ones there is,” says Jeff Bock, an analyst with Exhibitor Relations. The spy series continues to be popular and there’s the potential that it could be built out to include shows and other spinoffs, although those would require the sign-off of Broccoli and Wilson. Wilson, the producing team behind the James Bond series, have creative control over the movies and have made it clear that future 007 films will debut in cinemas. Analysts believe that it is Bond that drove Amazon’s acquisition. Of the films that have been released, “Licorice Pizza” scored an Oscar nomination for best picture, but lost money, as did “Cyrano” and “House of Gucci.” “Dog,” a $15 million drama that was co-directed by and stars Channing Tatum and a film that De Luca greenlit, was a hit, earning $50 million.īarbara Broccoli and Michael G. At MGM, he landed Paul Thomas Anderson’s “Licorice Pizza,” Joe Wright’s “Cyrano” and Ridley Scott’s “House of Gucci,” and is producing such upcoming projects as a remake of “Fiddler on the Roof,” which will be directed by “Hamilton” wunderkind Thomas Kail, and “Project Hail Mary,” an adaptation of “Martian” author Andy Weir’s novel of the same name that stars Ryan Gosling. If he remains, De Luca has deep relationships across the creative community that could be helpful to Amazon as it looks to bolster its content. Amazon has not revealed a reporting structure, but the senior team of MGM will part of the organization that’s led by Mike Hopkins, head of Prime Video and Amazon Studios. That includes the studio’s motion picture group chairman Michael De Luca and motion picture group president Pamela Abdy, who have been credited with landing a group of buzzy projects. “The reason for the acquisition seemed like they were after the big titles, the intellectual property, which of course, first and foremost, meant the James Bond franchise,” said Peter Newman, head of Tisch School of the Arts’ MBA/MFA program at New York University.įor now, the expectation is that the bulk of MGM’s roughly 800 staffers will move to Amazon, where the company will operate, at least initially, as an independent label.
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