Amazon MGM Studios announced Thursday it has assumed creative control of the iconic James Bond franchise, ending decades of family stewardship by the Broccoli and Wilson families, The Associated Press reports.
Longtime custodians Michael G. Wilson and Barbara Broccoli will be stepping back, relinquishing the creative reins they’ve held for nearly 30 years.
Under the new agreement, Amazon MGM Studios, Wilson, and Broccoli have formed a joint venture where they will co-own James Bond intellectual property rights. However, Amazon MGM will now hold ultimate creative control over the future of the franchise. Financial terms of the deal were not disclosed, and the agreement is expected to close sometime this year.
“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,” stated Michael G. Wilson. “Therefore, Barbara and I agree, it is time for our trusted partner, Amazon MGM Studios, to lead James Bond into the future.”
Amazon’s acquisition of MGM Studios in 2022 for $6.1 billion was largely motivated by the prospect of owning the James Bond franchise. Since Daniel Craig’s departure as 007 with 2021’s “No Time to Die,” Broccoli and Wilson have reportedly clashed with Amazon MGM over the creative direction of the franchise.
Thursday’s announcement signifies a monumental shift: for the first time in over half a century, a Broccoli will not be greenlighting the next 007 film or selecting the next actor to don the tuxedo. Beyond films, Amazon MGM also anticipates expanding the Bond franchise into new media and formats.
The Bond franchise has been a family affair since Albert “Cubby” Broccoli secured the rights to Ian Fleming’s novels, launching Eon Productions and the first Bond film, “Dr. No,” in 1962. These films have grossed over $7.6 billion at the box office. In 1995, the elder Broccoli passed the torch to his daughter, Barbara Broccoli, and stepson, Michael G. Wilson. In recent years, the 64-year-old Broccoli has primarily led the franchise, while Wilson, 83, has gradually stepped into retirement.
The disagreements between Broccoli and Wilson and Amazon MGM had effectively stalled development on the next Bond installment. Currently, no script, director, or actor has been announced for the next film, marking an unusually long delay for a franchise that typically releases films every two to three years.
A crucial condition for the producers during Amazon’s MGM acquisition was a commitment to theatrical releases for James Bond films. However, the fact that the future of Bond now rests with an e-commerce giant boasting one of the leading streaming services has sparked concerns among some fans about the potential impact of corporate oversight. Other billion-dollar movie franchises, such as Disney’s “Star Wars” and Marvel brands, have recently faced challenges related to oversaturation.
While Barbara Broccoli’s focus shifts, she remains active in other projects, having produced the 2022 film “Till” and the musical “Buena Vista Social Club,” which is set to open on Broadway next month.
