Best known as an e-commerce company, the acquisition of MGM by Amazon.com Inc (NASDAQ:AMZN) and launch of the Prime Video streaming platform have placed a larger bet on entertainment in recent years.
Amazon showed off its movie ambitions at CinemaCon this week.
• Amazon.com stock is trading at elevated levels.
Amazon Bets Big On Film
Amazon has one of the top-grossing films of the year with "Project Hail Mary." That film's success will help cushion the loss from the "Melania" documentary released earlier this year.
Both films are part of the company's commitment to release 15 movies a year in movie theaters.
"While some of our competitors have dipped their toes in and out of the theatrical waters, for us, this isn't a test or an experiment," Amazon MGM Studios head Mike Hopkins said at CinemaCon on Wednesday, as reported by Deadline.
Hopkins said Amazon is in "the top half of the first inning" when it comes to its film ambitions.
"Project Hail Mary is just the beginning."
Amazon Head of Domestic Theatrical Distribution Kevin Wilson highlighted the company's 2026 success at the event that hosts movie theater personnel and industry media as upcoming titles are previewed.
"Four months. Four films. Over $670 million at the box office. And we have nine more on the way," Wilson said.
While the company is getting closer to its goal of 15 theatrical films to be released by 2027, Wilson said it's not just about volume.
"We are building films that give audiences a reason to leave the house. Films with scale. Ambition. Something to say."
Among the films highlighted by Amazon MGM Studios at CinemaCon were the following, with their release dates as reported by IGN:
- "The Sheep Detectives": 5/8/26
- "Masters of the Universe": 6/5/26
- "How to Rob a Bank": 9/4/26
- "I Play Rocky": 11/13/26
- "Beekeeper 2": 1/15/27
- "Spaceballs: The New One": 4/23/27
Movie Segment Could Be Underrated
Amazon's quarterly results typically feature revenue from three components: North America, International and AWS. The results from Amazon MGM Studios and the Prime Video streaming platform are buried among the overall big picture.
The e-commerce giant often highlights its top releases in film and TV, and for the fourth quarter, pointed out its "Thursday Night Football" success, with viewership averaging more than 15 million viewers per game for the 2025 NFL season.
The success of "Project Hail Mary" and an upcoming slate of films could see Amazon putting more emphasis on its film and TV segment, or someday breaking out the results into a new category.
Amazon is also building out its international distribution to grow its global film presence. This includes adding executives in markets like Australia, Brazil, France, Germany, Italy, Mexico, Spain and the U.K., according to Deadline.
The movie company also highlighted one of the key pieces of the MGM acquisition with the James Bond film rights. Amazon said it is taking its time to get the right actor in place and make things right for the next film.
Once a small piece of Amazon, film, TV and streaming could end up being a segment that is not valued by investors because it’s buried among the company’s giant segments. Buying Amazon stock could now give investors e-commerce dominance, international growth, AWS growth, AI growth, and an entertainment segment that could be severely undervalued to peers.
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