Metro-Goldwyn-Mayer (MGM)

Overview

Metro-Goldwyn-Mayer (MGM) is one of the most recognized names in cinema history. Founded in 1924, the studio's library contains over 4,000 films and 17,000 TV shows, including the James Bond, Rocky, and Legally Blonde franchises. Amazon acquired MGM in March 2022 for $8.45 billion, making it Amazon's second-largest acquisition after Whole Foods ($13.7 billion in 2017). The studio now operates as Amazon MGM Studios, with Mike Hopkins serving as head of Prime Video and Amazon MGM Studios, and Courtenay Valenti as head of film.

The MGM library has collectively won more than 180 Academy Awards and 100 Emmys. Amazon's acquisition was driven primarily by the value of this IP library for Prime Video, with Hopkins stating that "the real financial value behind this deal is the treasure trove of IP in the deep catalog." The deal valued MGM at $6.5 billion in equity plus approximately $2 billion in assumed debt.

In March 2025, Amazon MGM Studios closed a joint venture with Barbara Broccoli and Michael G. Wilson that gave Amazon creative control of the James Bond franchise. The Broccoli/Wilson family remains co-owners of the IP, but Amazon MGM Studios now leads creative decisions for the franchise.

History

Marcus Loew orchestrated the 1924 merger of Metro Pictures, Goldwyn Pictures, and Louis B. Mayer Productions to create MGM. Under production chief Irving Thalberg, MGM became the dominant studio of Hollywood's golden age, producing Ben-Hur (1925), Grand Hotel (1932), Mutiny on the Bounty (1935), and The Wizard of Oz (1939). The studio's roster included Greta Garbo, Clark Gable, Spencer Tracy, Katharine Hepburn, Judy Garland, and Gene Kelly.

MGM's musical productions of the 1940s and 1950s, including Meet Me in St. Louis (1944), An American in Paris (1951), Singin' in the Rain (1952), and Gigi (1958), set the standard for the genre. Later productions include 2001: A Space Odyssey (1968), the Rocky franchise (1976-present), Rain Man (1988), Thelma and Louise (1991), and The Silence of the Lambs (1991).

The studio changed ownership multiple times from the 1970s onward: Kirk Kerkorian, Ted Turner (who acquired the pre-1986 library, now part of Warner Bros. Discovery), Giancarlo Parretti, Credit Lyonnais, a consortium led by Sony, and finally Amazon in 2022. Despite these ownership changes, the MGM brand and library retained their value.

The James Bond Franchise

Franchise Value and Performance

The James Bond franchise is MGM's most valuable IP. The 25 official EON Productions Bond films have generated over $7.8 billion in worldwide box office across six decades. The franchise has been distributed through various studio partners over the years, with Amazon MGM Studios now handling distribution.

Amazon's Creative Control

In February 2025, Amazon MGM Studios announced it would develop the next Bond film. In March 2025, the joint venture with Broccoli and Wilson closed, giving Amazon creative control. The creative team for Bond 26 includes:

• Director: Denis Villeneuve (Dune, Blade Runner 2049, Arrival)
• Producers: Amy Pascal (Pascal Pictures) and David Heyman (Heyday Films)
• Executive Producer: Tanya Lapointe
• Screenwriter: Steven Knight (Peaky Blinders)

Casting for the next Bond is underway as of 2026. Amazon MGM Studios has stated they are "taking the time to do this with care and deep respect." Courtenay Valenti confirmed at CinemaCon 2026 that the studio will share more information "when the time is right."

Amazon MGM Studios Operations

Film Division

Amazon MGM Studios evaluates projects for both theatrical release and Prime Video streaming. The platform and release strategy is determined by each project's commercial profile and target audience. The studio operates from Amazon's Culver City headquarters, separate from the historic MGM lot in Beverly Hills.

Current and Upcoming Projects

Library Exploitation

Amazon's strategy for the MGM library involves reimaging and developing existing IP for new productions. The 4,000-film library includes franchises and titles such as Rocky/Creed, Legally Blonde, The Pink Panther, RoboCop, Tomb Raider, The Magnificent Seven, Stargate, Poltergeist, Raging Bull, and 12 Angry Men. The TV library includes Fargo, The Handmaid's Tale, Vikings, Shark Tank, Survivor, and The Real Housewives.

MGM+ and Premium Channel

MGM operates MGM+, a premium cable and streaming channel that features content from the MGM library and original programming. The channel is integrated into Amazon's broader content ecosystem.

What Filmmakers Should Know

Project Submission

Amazon MGM Studios does not accept unsolicited submissions. Projects are developed through Amazon Studios' internal development process, through relationships with talent agencies, and through producer partnerships. The studio's head of film, Courtenay Valenti, oversees both theatrical and streaming film strategy.

Theatrical vs. Streaming

Amazon MGM Studios evaluates each project for theatrical or Prime Video release based on commercial profile. The studio has demonstrated commitment to theatrical releases for franchise and event films (Project Hail Mary, Bond 26) while using Prime Video for streaming-original content. Filmmakers should understand that the distribution platform decision is made by the studio, not the filmmaker, and is based on the project's perceived audience and revenue potential.

Bond Franchise Implications

The next Bond film represents the first time Amazon has full creative control of the franchise. Denis Villeneuve's involvement signals a prestige approach, and the selection of Amy Pascal (producer of the Spider-Man franchise) and David Heyman (producer of the Harry Potter franchise) indicates Amazon's commitment to franchise-grade producing talent. The film's budget is expected to be in the $200-$300 million range based on Villeneuve's Dune films as a benchmark.

Library IP Development

Amazon is actively developing new productions based on MGM library titles. Filmmakers with pitches for reimagining existing MGM IP should work through talent agency relationships with Amazon MGM Studios' development team. The studio's first-look deal with Paramount Pictures (via Miramax's 49% Paramount stake) also creates cross-studio development opportunities.

Notable Productions

MGM's library of over 4,000 films includes some of the most commercially and critically successful titles in cinema history. Key franchises and productions:

• James Bond franchise (1962-present) - 25 EON Productions films, over $7.8 billion worldwide box office. Skyfall (2012) is the highest-grossing at $1.11 billion.
• Rocky/Creed franchise (1976-present) - Rocky (1976) won Best Picture; the Creed spin-off series has grossed over $500 million globally.
• The Silence of the Lambs (1991) - $273 million worldwide, 5 Oscars including Best Picture
• Rain Man (1988) - $354 million worldwide, 4 Oscars including Best Picture
• Thelma and Louise (1991) - $45 million domestic, 6 Oscar nominations
• 2001: A Space Odyssey (1968) - Stanley Kubrick, 1 Oscar win
• The Wizard of Oz (1939) - 2 Oscars, preserved in the National Film Registry
• Project Hail Mary (2026) - Ryan Gosling sci-fi directed by Phil Lord and Christopher Miller, $525 million worldwide and counting
• The Beekeeper 2 (2026) - produced with Miramax

House Style and Genre Focus

MGM's historical identity was built on prestige dramas, musicals, and the Bond franchise. Under Amazon's ownership, the studio has shifted toward franchise-driven theatrical releases and IP exploitation. The MGM library spans prestige cinema (Rain Man, Thelma and Louise), action franchises (Bond, Rocky, RoboCop), comedy (Legally Blonde, The Pink Panther), and horror (Poltergeist). Amazon MGM Studios' current strategy emphasizes theatrical releases for franchise and event films (Project Hail Mary, Bond 26) while using Prime Video for streaming-original content. The Orion Pictures label within Amazon MGM handles specialty and genre theatrical releases. The studio does not have a single house style; its identity is defined by its IP library rather than a consistent genre focus.

How They Typically Find Talent and Take Submissions

Amazon MGM Studios does not accept unsolicited submissions. Projects are developed through Amazon Studios' internal development process, through relationships with talent agencies (CAA, WME, UTA, ICM), and through producer partnerships. The studio's head of film, Courtenay Valenti, oversees both theatrical and streaming film strategy. Filmmakers with pitches for reimagining existing MGM IP should work through talent agency relationships with Amazon MGM Studios' development team. The studio's first-look deal with Paramount Pictures (via Miramax's 49% Paramount stake) also creates cross-studio development opportunities. For Bond 26, Amazon assembled franchise-grade producing talent: Denis Villeneuve directing, Amy Pascal and David Heyman producing, Steven Knight writing.

Watch: Trailers and Behind the Scenes

See Also

For understanding how major studio distribution and streaming strategies work, see Distribution Deals Explained. To model revenue across theatrical and streaming windows, use the Revenue Forecast Calculator. For understanding how library IP valuation drives studio acquisitions, read Film Co-Production Agreements.