Four years have passed since Amazon acquired MGM for $8.5 billion, and following the phenomenal success of this year’s blockbuster Project Hail Mary, the entertainment sector has proven to be a profitable venture for the retail titan.
According to Amazon CEO Andy Jassy during the company’s earnings call, Prime Video has become a major player, boasting a revenue run rate in the tens of billions and achieving profitability independently. Jassy previously mentioned in May that Prime Video was already making a profit, but the updated projection indicates even greater financial success.
This year, Amazon MGM Studios has reportedly generated over $1.2 billion in worldwide box office revenue, with successful films such as Project Hail Mary and Verity contributing to this figure. Project Hail Mary, featuring Ryan Gosling and adapted from Andy Weir’s book, hit theaters in March and has become the studio’s highest-grossing title, amassing an estimated $684 million globally, according to box office trackers. The studio did experience at least one notable disappointment this year with the film Melania.
In addition to films, Jassy highlighted several popular television series, including Carrie, The Summer I Turned Pretty, The Boys, Off Campus, Fallout, and Reacher. The fourth season of Reacher attracted 66 million viewers worldwide within its first 28 days, and filming for a fifth season is underway, with the show also renewed for a sixth season. For those not following Alan Ritchson, the lead actor of Reacher, on social media platforms, it’s suggested you’re missing out on his engaging and humorous interactions.
Sports programming has also played a crucial role in driving viewership. Prime Video features broadcasts of events such as NASCAR, the Masters, and UEFA Champions League soccer, but its Thursday Night Football broadcasts appear to be the standout success of the year, averaging 17.7 million viewers across the first six games, a 16% increase compared to last season, according to Nielsen data provided by Amazon. Additionally, the platform saw over 2 million viewers tuning in for the second season of the NBA on Prime, based on Nielsen’s report.
