Bond's New Bosses: Amazon Takes Creative Control After 61-Year Broccoli Reign | Analysis

The keys to 007's Aston Martin are finally changing hands

By Umberto Gonzalez

After 61 years of iron-fisted creative control over cinema's most iconic spy franchise, the Broccoli family is stepping back from James Bond, handing the creative reins to Amazon MGM Studios while maintaining co-ownership through a newly formed joint venture.

The move brings to an end one of Hollywood's longest-running family creative dynasties and gives Amazon something money alone couldn't buy: the power to reinvent Ian Fleming's spy for the streaming era.

"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," producer Michael G. Wilson said in a prepared statement on Thursday morning. "Therefore, Barbara and I agree, it is time for our trusted partner, Amazon MGM Studios, to lead James Bond into the future."

The shift represents the final piece of Amazon's $8.45 billion MGM acquisition puzzle – and a coup for Amazon MGM studio chief Jennifer Salke and especially film head Courtenay Valenti. While the 2022 MGM acquisition gave Amazon the studio behind Bond, creative control remained firmly in the grip of Wilson, 83, and half-sister Barbara Broccoli, 64, who notoriously rejected previous suitors' attempts to expand the franchise into television series or spinoffs. Now, as Amazon MGM Studios prepares to launch its own international distribution arm (as TheWrap exclusively reported the hiring of Andrew Cripps to lead that) and take center stage at next month's CinemaCon, the streamer has suddenly transformed itself into a traditional studio powerhouse with Hollywood's most iconic spy in its arsenal.

Barbara Broccoli and Michael G. Wilson at the 2024 Governors Awards. (Etienne Laurent/AFP via Getty Images)

One media outlet reported that Amazon paid $1 billion to get partial ownership of the Bond franchise in the joint venture agreement. An Amazon insider said that figure was "based on no facts" but would provide no details. Amazon paid $250 million for the rights J.R.R. Tolkien's "Lord of the Rings" in 2017 and another $750 million to fund production, for a total commitment of $1 billion.

The implications of this deal stretch far beyond 007's next mission. At a time when streamers and the legacy studios are battling over theatrical windows and release strategies, Amazon's commitment to Bond's theatrical future – while maintaining streaming flexibility – suggests a new model for franchise filmmaking.

As legacy studios increasingly rely on established IP, Amazon's long courtship of the Broccolis could usher in a new era where the streamers don't just buy franchises – they inherit their creative legacies.

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The Valenti Factor

Insiders who spoke to TheWrap pointed to Courtenay Valenti -- who joined the streamer as Head of Film, Streaming and Theatrical for Amazon MGM Studios after a 33-year run at Warner Bros. -- as a key architect behind securing the Broccolis' trust. Her track record of shepherding prestige franchises while maintaining filmmaker relationships made her uniquely positioned to bridge the gap between streaming ambitions and theatrical tradition.

"I'm sure Courtenay will call Chris Nolan, Danny Boyle and Edward Berger next," according to a top agent, referring to the industry's top directors. Nolan has long said one of his dream projects is to make a Bond movie, but only if he could start from scratch.

Courtenay Valenti (Getty Images)

The Bond coup represents Valenti's biggest win since joining the streaming giant. During her Warner Bros. tenure, she oversaw numerous successes, including the final "Harry Potter" films, the "Fantastic Beasts" franchise, and critically acclaimed hits like "Mad Max: Fury Road" and "Elvis." That combination of commercial and critical success mirrors the delicate balance the Bond franchise has historically tried to maintain.

The deal came about despite reported tension between Amazon MGM Studios chief Jennifer Salke and Broccoli. As recently as December, The Wall Street Journal reported that the franchise was in a "stalemate," noting: "Broccoli was irked in one early meeting when Salke referred to James Bond by a dreaded word: 'content.' Using such a sterile term, one friend reflected, was like a 'death knell' to Broccoli."

The road ahead

The Bond move also came as Valenti and her team prepare to take center stage at next month's CinemaCon in Las Vegas – traditionally the domain of legacy studios, not streamers, where Amazon MGM Studios will make its debut main stage presentation.

The timing suggests the studio may use the exhibition industry's biggest con to possibly outline its vision for Bond's future – an important step in reassuring theater owners that 007 remains committed to the big-screen experience.

The financial implications extend far beyond traditional box-office metrics. The 25 official Bond films have generated over $7.8 billion in worldwide box office, with the last entry "No Time to Die" grossing $758 million globally. But Amazon's strategy appears focused on leveraging theatrical releases to drive streaming value – a model recently validated by its hybrid approach to films like "Red One."

Indeed, Amazon is ramping up its distribution efforts with an aim to release 16 theatrical films a year by 2027. A new James Bond film shortly thereafter would be quite the statement that the tech giant is ready to stand shoulder-to-shoulder with the legacy studios.