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Broccoli, Bezos and Bond
If you haven’t heard by now, Amazon announced it is acquiring MGM Studios for $8.45 billion. I’m not going into details of the deal because there are plenty of publications out there. I want to explore the history of one of MGM’s most storied assets: James Bond.
Over the last couple weeks, I’ve seen countless articles saying how great it is that Amazon is snapping up MGM IP, the Bond franchise being the hottest. However, MGM has a unique relationship with Bond that prevents Bezos from having his way with the franchise (for now).
History lesson: Two fellas, Albert Broccoli and Harry Saltzman, started EON Productions in 1961 to bring the Bond novel rights to film. EON Productions, through its legal holding company, Danjaq, owns the copyright and trademarks to the James Bond universe on screen. Broccoli and Saltzman produced Dr. No in 1962 and kicked off the iconic movie franchise. Today, EON Productions is still run by the Broccoli family: Albert’s daughter and stepson, Barbara Broccoli and Michael Wilson. (Saltzman sold his stake in 1975)
Broccoli > Bond: Thanks to a badass deal structured by Albert Broccoli, EON has an absurd level of creative control on the Bond franchise. From marketing to script development to casting, EON has final say.
Daniel Craig is the new James Bond? James Bond falls in love ? Silva and Bond’s first encounter should be subtly bathed in homoerotic seduction? All were green lit because Broccoli and Wilson said so.
“For better or worse, we are the custodians of this character. We take that responsibility seriously.” - Barbara Broccoli
What now? James Bond will not be a marketing slam dunk for Prime Video, at least not yet. During the Amazon/MGM deal rumors, bullish narratives suggested Bezos could woo new Prime Video members by offering a pre-theatrical release of No Time To Die on Prime Video. But that’s not up to Amazon. Shortly after the deal announced, Broccoli and Wilson said they are “committed to continuing to make James Bond films for the worldwide theatrical audience.” How long is that theatrical window before Bond makes it to Prime Video? TBD.
I’m curious to see how the Broccoli family will maintain creative control with a data-driven, tech overlord. Amazon and Prime Video are in the business of acquiring and retaining viewers, that’s it. Amazon will undoubtedly amass troves of data contradicting future creative moves by Broccoli and Wilson. How long can Barbara ignore emails explaining why casting X would lead to a 5% increase in net adds vs. casting Y? And what if Amazon wants to expand the Bond universe with character spinoffs and television shows? Barbara and Wilson have been historically resistant to all of the above to maintain the bespoke nature of each Bond film.
Streaming companies certainly upended the traditional methods of Hollywood production and distribution. By owning D2C distribution, streamers are the gatekeepers of content and consumer revenue. Barbara Broccoli and Michael Wilson have found themselves uniquely positioned thanks to Daddy Broccoli’s legacy deal. Hopefully their creative moat endures.
Walt’s Thoughts
My buddy, Walter, is a movie aficionado and mega MediaByter. He’ll drop in from time to time…
While 007's worldwide gross of $7 billion over the last 60 years makes it one of the most successful film franchises of all time, it doesn't hold a candle to the $23 billion that the MCU (Marvel Cinematic Universe, for the uninitiated) has raked in since Tony Stark escaped Afghanistan 13 years ago.
Today marks the debut of the third television series of "Phase Four" of the franchise, starring everyone's favorite genderfluid supervillain (antihero?) and title character, Loki. In March, Disney+ enjoyed its most watched series premiere ever in yet another product of the MCU, The Falcon and the Winter Soldier. While these are seemingly big shoes to fill, I have no doubt that Loki will set the bar even higher.
“Nobody gives a shit about any of the other Marvel characters. Go back and do a deal for only Spider-Man.” -The Sony Suits, 1998
Other Highlights
M&A
Axel Springer in talks to buy Axios for $400-450 million to add to its US portfolio
Gray Television buying Meredith Corp’s local TV stations for $2.8 billion (up from original $2.7 billion after an unsolicited proposal from another party)
Another showing of media conglomerates splitting up their print/publication and tv assets
Billy Ackman nearing deal with Universal Media Group at a valuation ~$40 billion
If this deal goes through, would be biggest SPAC so far
Introducing…WarnerBros. Discovery
At a town hall last week, Discovery CEO David Zaslav and WarnerMedia CEO Jason Kilar announced the new name for the combined entity: WarnerBros. Discovery
Along with the name, they showcased the new logo and tagline above
After a swift ass kicking on social media, Discovery PR emphasized that this is a preliminary design. Here are a few gems:
What I’m streaming…
Invincible: Had no expectations when I started episode 1 and was absolutely enthralled by the storyline and tone. Honestly, just clicked on it because I saw Steven Yeun is voice of main character
Onward: Directed by Dan Scanlon (Monster’s University), loosely based on Scanlon’s own childhood after losing his father at a young age