Amazon MGM Studios

Overview

Amazon MGM Studios is the film production and distribution division of Amazon, formed following Amazon's $8.45 billion acquisition of MGM Holdings in 2022. The company combines Amazon Studios' original content operation (launched in 2010) with MGM's library of over 4,000 film titles and 17,000 television episodes, plus MGM's ongoing production capabilities. Amazon MGM Studios distributes films globally through Prime Video, Amazon's subscription streaming platform with over 200 million subscribers worldwide, and through theatrical releases via partnerships with cinema chains.

At CinemaCon 2025 and 2026, Amazon MGM Studios committed to spending approximately $1 billion annually on theatrical releases, with a target of at least 15 films per year in theaters by 2027. The studio had 14 theatrical releases lined up for 2026 and 16 for 2027. This commitment positions Amazon MGM as one of the most prolific theatrical distributors in the industry, filling a gap left by the reduction in wide releases from traditional studios.

Leadership and Corporate Structure

Key leadership at Amazon MGM Studios includes:

• Mike Hopkins: Head of Prime Video and Amazon MGM Studios
• Courtenay Valenti: Head of film
• Sue Kroll: Head of global marketing
• Kevin Wilson: Head of domestic theatrical distribution

The studio is building a new international distribution arm to handle global theatrical releases at scale. This infrastructure investment signals Amazon's long-term commitment to theatrical releasing rather than treating cinema as a marketing window for streaming.

Theatrical Strategy and Box Office Performance

Amazon's approach to theatrical versus streaming-only release has evolved significantly. The company previously released between 5 and 8 films per year theatrically, including Air, Challengers, Nickel Boys, and Red One. The shift to 14 films in 2026 and 16 in 2027 represents a major escalation.

Project Hail Mary (March 2026), starring and produced by Ryan Gosling with filmmakers Phil Lord and Chris Miller, became one of the top-grossing films of 2026 with $525 million in global box office. At CinemaCon 2026, Kevin Wilson reported: "Four months. Four films. Over $670 million at the box office. And we have nine more on the way."

The studio's theatrical slate spans genres: sci-fi, fantasy, action, family films, thrillers, and prestige drama. After their theatrical runs, films eventually become available to stream on Prime Video, included in all Prime memberships.

2026-2027 Theatrical Slate

Amazon MGM Studios' announced theatrical releases include:

• The Sheep Detectives (May 8, 2026): Hugh Jackman mystery film
• Masters of the Universe (June 5, 2026): Travis Knight-directed adaptation starring Nicholas Galitzine, Camila Mendes, and Idris Elba
• How to Rob a Bank (September 4, 2026): David Leitch-directed heist comedy with Nicholas Hoult, Zoe Kravitz, Anna Sawai, Pete Davidson, and John C. Reilly
• Verity (October 2, 2026): Adaptation of Colleen Hoover's bestseller
• I Play Rocky (November 20, 2026): Peter Farrelly-directed true story about the creation of Rocky
• The Beekeeper 2 (January 15, 2027): Jason Statham returns for the action sequel
• The Thomas Crown Affair (March 5, 2027)
• Spaceballs: The New One (April 23, 2027): Mel Brooks sequel with Rick Moranis, Daphne Zuniga, Bill Pullman, Josh Gad, Keke Palmer, and Lewis Pullman

Additional 2026 titles include Mercy (January 23, starring Chris Pratt and Rebecca Ferguson), Three Bags Full: A Sheep Detective Movie (February 20), Crime 101, 4 Kids Walk Into a Bank, Is God Is, and The Roots Manoeuvre.

Acquisition Strategy and Deal Structures

Amazon MGM Studios acquires films at major festivals and markets and is one of the most active buyers at Sundance. The company's acquisition budget and willingness to offer competitive minimum guarantees make it a significant player in the festival acquisition market.

Amazon's deal structures typically fall into two categories:

1. Theatrical deals: For stronger acquisitions, Amazon offers a platform fee plus theatrical commitment with a wide release. These deals can include global streaming rights on Prime Video following the theatrical window.

1. Direct-to-streaming deals: For titles where theatrical is not justified, Amazon acquires worldwide rights for direct Prime Video release. In 2026, Amazon acquired worldwide rights to Supermax starring Will Smith from Miramax for $70 million, with plans to release directly on Prime Video without a theatrical run.

For filmmakers, the key consideration is Amazon's global reach versus the theatrical commitment level. Amazon's platform does not provide filmmakers with detailed audience data, which limits understanding of how a film performs post-release. The MGM relationship adds a production and co-financing dimension: the company now has the development and production infrastructure to invest in projects at an earlier stage, not just acquire finished films.

Key Franchises and Properties

Post-acquisition, Amazon MGM controls distribution rights to major franchises:

• James Bond: Jointly controlled with the Broccoli family's Eon Productions. Amy Pascal and David Heyman have been announced as producers of the next installment.
• Rocky and Creed: Ongoing franchise with the I Play Rocky biopic in production
• Legally Blonde: Franchise with sequel development
• The Silence of the Lambs: Franchise universe
• RoboCop: Franchise rights
• Pink Panther: Franchise rights
• Hundreds of classic MGM titles in the library

These properties represent ongoing distribution obligations and revenue streams that run parallel to the original content program. The MGM library also provides catalog content for Prime Video and MGM+ (Amazon's subscription streaming service acquired through the MGM deal).

Notable Past Acquisitions

Amazon's acquisition history spans prestige drama, comedy, and international cinema:

• Manchester by the Sea (2016): Academy Award winner that established Amazon's theatrical credibility
• The Big Sick (2017): Commercial and critical success
• Coming 2 America (2021): MGM franchise sequel
• Being the Ricardos (2021): Aaron Sorkin-directed biopic
• Saltburn (2023): Emerald Fennell film that became a cultural talking point
• Challengers (2024): Luca Guadagnino sports drama starring Zendaya
• The Accountant 2 (2025): Ben Affleck and Jon Bernthal sequel
• After the Hunt (2025): Luca Guadagnino film starring Julia Roberts, Ayo Edebiri, and Andrew Garfield

What Filmmakers Should Know

Amazon MGM Studios is one of the most active acquisition targets for filmmakers with festival-premiered films. The company buys at Sundance, Cannes, TIFF, Venice, and Berlin. Its $1 billion annual theatrical commitment means more films are receiving wide theatrical releases than ever before from the studio.

For filmmakers considering an Amazon deal, the trade-offs are:

• Global reach: Prime Video's 200+ million subscribers provide immediate global audience access
• Theatrical commitment: Increasing, with 14-16 films per year receiving theatrical releases by 2026-2027
• Limited audience data: Amazon does not share detailed viewership metrics with filmmakers
• Platform fee structure: Deals typically involve a platform fee for streaming rights, sometimes combined with theatrical P&A spend
• MGM production infrastructure: The company can now co-finance and develop projects at earlier stages, not just acquire finished films

Filmmakers with commercially positioned projects (genre films, star-driven drama, franchise IP) align with Amazon's current theatrical priorities. For smaller arthouse or niche films, Amazon may acquire for direct-to-streaming without theatrical commitment.

See Also

For how streaming platform deals compare to traditional theatrical distribution, see Streaming vs Theatrical Revenue. To model the financial terms of a streaming buyout versus a theatrical-first distribution deal, use the Revenue Forecast Calculator. For Amazon's free ad-supported tier (formerly Freevee, now consolidated into Prime Video), see Amazon Freevee in this directory.