MGM Looks to Amazon as the Hollywood Studio Tries to Find a Buyer
Streaming has become fiercely competitive, with Disney+ coming on strong and HBO Max, Apple TV+ and Paramount+ determined to make inroads. That has pushed the original streaming disrupters — Netflix and Amazon Prime Video — to lean harder on broad-appeal movies to keep growing, particularly overseas.
The 58-year-old James Bond franchise is a Hollywood crown jewel that has generated tens of billions of dollars in ticket sales, home entertainment revenue, video games and marketing partnerships. But 007 has been both an enticement and a deterrent to prospective MGM bidders.
That is because MGM owns only 50 percent of the spy franchise. The balance is held by Barbara Broccoli and her brother, Michael G. Wilson. Through their company, Eon, which stands for Everything or Nothing, the siblings also have ironclad creative control, approving every line of dialogue, casting decision, stunt sequence, TV ad, poster and billboard. Bond has enormous untapped value, with television offshoots as one potential bonanza. But Ms. Broccoli and Mr. Wilson, worried about adulterating the brand, have blocked spinoff efforts in the past: Bond belongs on big screens, not small ones.
“If we get the wrong partners, there are liable to be conflicts,” Mr. Wilson said in a 2015 interview.
“No Time to Die,” the 25th installment in the Bond series, cost about $250 million to make and is scheduled for pandemic-delayed release in theaters on Oct. 8. (The previous film, “Spectre,” took in about $900 million worldwide in 2015.) The role of James Bond is expected to be recast after “No Time to Die,” as Daniel Craig leaves the role after 15 years.
Amazon’s entertainment strategy has evolved as streaming services have proliferated. Indie films like “Manchester by the Sea” and unconventional shows like “The Marvelous Mrs. Maisel” and “Transparent” gave Amazon a foothold in Hollywood; domination will require a steady supply of mainstream hits.
The problem: Amazon Studios has limited bandwidth, most of which is tied up with television series — including a coming “Lord of the Rings” adaptation that is believed to be the most expensive show ever made, with a one-season budget of $465 million. To stock its shelves with big movies, Amazon has been turning to outside suppliers. It paid $125 million for the rights to “Coming 2 America” and $80 million for “Borat Subsequent Moviefilm.” In July, Amazon will release “The Tomorrow War,” a science-fiction spectacle it bought for $200 million.
Nicole Sperling contributed reporting.
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