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Nia Warfield

Amazon doubles down on struggling video business with 007

Amazon is set to take creative control of the James Bond film franchise, after acquiring MGM Studios for $8.45 billion in 2021. The move marks a shift in the iconic series, which has long been produced by Michael Wilson and Barbara Broccoli, heirs of original 007 producer Albert “Cubby” Broccoli.

The James Bond franchise, which spans over 60 years, has earned nearly $8 billion worldwide. Amazon, which had already secured distribution rights after the MGM acquisition, will now oversee the franchise’s creative direction through its joint venture with Wilson and Broccoli. Despite stepping back from production, both producers will remain co-owners of the Bond IP.

“We are grateful to Michael G. Wilson and Barbara Broccoli for their unyielding dedication to the franchise,” said Mike Hopkins, head of Amazon’s Prime Video and MGM Studios. “We are honored to continue this treasured legacy and look forward to the next chapter of 007.”

Amazon to gain creative control of James Bond franchise from Broccoli family

Daniel Craig No Time To Die

The James Bond franchise, which spans over 60 years, has earned nearly $8 billion worldwide. Amazon, which had already secured distribution rights after the MGM acquisition, will now oversee the franchise’s creative direction through its joint venture with Wilson and Broccoli. Despite stepping back from production, both producers will remain co-owners of the Bond IP.

“We are grateful to Michael G. Wilson and Barbara Broccoli for their unyielding dedication to the franchise,” said Mike Hopkins, head of Amazon’s Prime Video and MGM Studios. “We are honored to continue this treasured legacy and look forward to the next chapter of 007.”

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eBay stock slumps on gloomy Q4 outlook despite solid Q3 earnings

Shares of eBay fell as much as 10.5% in premarket trading on Thursday morning after the company gave a lower-than-expected profit forecast for the important holiday shopping season.

The e-commerce giant reported solid numbers for the third quarter on Wednesday, with revenue up 9% as reported to $2.8 billion and gross merchandise volume rising 10% to $20.1 billion, topping the average analyst forecast of $19.4 billion, per Bloomberg.

However, concerns about the future somewhat overshadowed these results.

eBay outlined its profit outlook for the period ending in December to $1.31 to $1.36 a share, with revenue at $2.83 billion to $2.89 billion. According to Bloomberg-compiled data, this broadly matches Wall Street’s estimates for the top line, but misses on the bottom line, with analysts forecasting EPS to come in at $1.39 — suggesting the company expects some further margin pressure.

The company has been facing macroeconomic challenges since the US ended the de minimis tariff exemption in late August, with the online marketplace reliant on shipments. One small silver lining? CFO Peggy Alford highlighted a “less durable trend” on a post-earnings call: that as commodity prices for precious metals boomed, demand for bullion and collectible coins on eBay spiked.

EBay Falls After Giving Weak Profit Outlook for Holiday Period

eBay Bloomberg 10/30

However, concerns about the future somewhat overshadowed these results.

eBay outlined its profit outlook for the period ending in December to $1.31 to $1.36 a share, with revenue at $2.83 billion to $2.89 billion. According to Bloomberg-compiled data, this broadly matches Wall Street’s estimates for the top line, but misses on the bottom line, with analysts forecasting EPS to come in at $1.39 — suggesting the company expects some further margin pressure.

The company has been facing macroeconomic challenges since the US ended the de minimis tariff exemption in late August, with the online marketplace reliant on shipments. One small silver lining? CFO Peggy Alford highlighted a “less durable trend” on a post-earnings call: that as commodity prices for precious metals boomed, demand for bullion and collectible coins on eBay spiked.

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