James Bond's New Era: Amazon MGM Studios Takes Creative Reins of Franchise

Amazon.com Inc AMZN owned MGM Studios has entered into a new partnership with Michael G. Wilson and Barbara Broccoli to oversee the rights to the legendary James Bond series.

The deal, which comes after Amazon's purchase of MGM in 2022, grants Amazon MGM Studios creative control over upcoming Bond films. Despite this, Wilson and Broccoli will continue as co-owners of the franchise. This represents a pivotal shift for the 007 series, which has remained a significant cultural icon for more than 60 years.

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"We are grateful to the late Albert R. Broccoli and Harry Saltzman for bringing James Bond to movie theatres around the world, and to Michael G. Wilson and Barbara Broccoli for their unyielding dedication and their role in continuing the legacy of the franchise that is cherished by legions of fans worldwide," said head of Prime Video and Amazon MGM Studios, Mike Hopkins.

"We are honoured to continue this treasured heritage, and look forward to ushering in the next phase of the legendary 007 for audiences around the world."

Michael G. Wilson said, "With my 007 career spanning nearly 60 incredible years, I am stepping back from producing the James Bond films to focus on art and charitable projects", adding that it was time for Amazon MGM Studios to lead the franchise into the future.

The agreement finalized on Thursday will grant Amazon a more active role in the series as fans eagerly anticipate the 26th Bond film and the unveiling of the actor who will step into the iconic tuxedo following Daniel Craig's departure in 2021, reported Reuters.

The Bond franchise's latest release was No Time to Die in 2021 which earned close to $800 million globally.

Amazon's 2022 acquisition of MGM enabled the streaming service provider to access an extensive library of over 4,000 films and 17,000 television shows.

Price Action: At the last check on Friday, AMZN shares were trading higher by 0.28% at $223.51 in the premarket.

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