MGM Studios has been purchased by Amazon for a reported 8.45 billion dollars. Just imagine all of the ramen you could buy with that? Actually, you could buy the world’s supply of ramen with that, plus a few pizzas. Crazy right? Not such a crazy thing when the old film giants that were top dogs during Hollywood’s Golden Era have been struggling to keep up with modern trends and technologies. Lately, it has been a hodgepodge of film studios trying to bank off millennial nostalgia (i.e., sequels and reboots) because many studios aren’t too sure how to please the masses as of late.
Box office numbers, before the pandemic, haven’t been as strong, and most of that has to do with a changing economy and changing technology. Streaming services are readily available at our fingertips, and they have proven to be more convenient to people who are overworked and underpaid. Think of it this way, do you really want to go to a packed theater on the weekend after having a rough week at work, or would you rather cuddle up on the couch with a bowl of your inexpensive ramen and billion-dollar pizza (not overly priced movie theater popcorn and soda) and stream or rent a newly released film? Exactly! MGM Studios has honestly made the wise decision in this big move in an attempt to keep them alive in the modern film and television industry.
A Brief Studio History of MGM
Metro Goldwyn Mayer, along with Paramount, Fox, Warner Brothers, and RKO, was the film giants of the Golden Age of Cinema (1929-1945). These major studios grew in power thanks to the Great Depression and WWII. Americans would initially go to cinemas to experience the world as which they have never seen before. It was their escape, and at times, source of information. Different film studios have waxed and waned over the years, but MGM, 20th Century Fox, Paramount Pictures, and Warner Brothers remained around, at least for a while.
Disney had a “merger” with 20th Century Fox that cost 71.3 billion. 20th Century was floundering; Disney wanted rights to certain films and wanted to expand their empire, which has been on the up and up due to their Marvel and Star Wars purchases. Now Amazon is pretty much attempting to do the same thing with MGM Studios. What does this mean for MGM? Well, it means that they can stay alive. What does this mean for Amazon? Amazon will now have access and rights to a slew of films and brands. Including James Bond.
The Future of James Bond
The procurement of MGM Studios by Amazon was complicated by rights to the Bond franchise still being partially owned by Albert Broccoli‘s family. His heirs Barbara Broccoli and her half-brother Michael G. Wilson both have the final say on how Bond is marketed and distributed. They also shall have the final say on who shall play the role after Daniel Craig. The biggest hitch for Amazon shall be whether or not they plan to greenlight any likelihood of the Bond films premiering on the server or allowing spinoffs or shows. It’s okay though MGM has plenty to offer.
MGM Studios still owns the rights to Hannibal Lector (I mean if they want to do another reboot), Fargo, Vikings, and The Hobbit franchise. Not mention plenty of great films including; The Birdcage, Twelve Angry Men, The Wizard of Oz, One Flew Over the Cuckoo’s Nest, Moonstruck, The Bond Films (of course), The Rocky films, A Fish Called Wanda, Thelma and Louise, Lucky Number Slevin, War Games, and Death at a Funeral (2007). These are only their top grossers, and there shall be plenty more to explore on Amazon Prime once the “merger” happens. There shall be over a catalog of at least 4,000 films.
What do you think about the purchase by Amazon for MGM Studios? Let me know in the comments!