It has been four years since Amazon completed its landmark $8.5 billion acquisition of Metro-Goldwyn-Mayer (MGM), a high-stakes corporate maneuver that many industry skeptics initially questioned. However, coming off the blockbuster theatrical and streaming success of this year’s hit movie Project Hail Mary, Hollywood has officially become a highly lucrative and self-sustaining business for the e-commerce titan.
Prime Video, Amazon’s flagship streaming service, has evolved far beyond a mere perk designed to drive Amazon Prime membership renewals. According to Amazon CEO Andy Jassy, the platform has emerged as a significant business with a revenue run rate sitting comfortably in the tens of billions of dollars. Furthermore, Jassy revealed during a quarterly earnings call that the service is now solidly profitable in its own right. While the chief executive had previously informed investors that Prime Video was operating in the black, the new revelation that the platform is on track to generate tens of billions of dollars underscores the sheer scale of Amazon’s entertainment ambitions.
The financial windfall is not limited to the streaming subscription model alone. Amazon announced that its dedicated theatrical and cinematic division, Amazon MGM Studios, has successfully brought in more than $1.2 billion in global box office sales so far this year. This impressive milestone has been heavily bolstered by major theatrical hits such as Project Hail Mary and Verity.
Leading the charge at the box office was Project Hail Mary, which grossed an estimated $684 million worldwide. Starring Ryan Gosling and based on the acclaimed science fiction novel by author Andy Weir, the film opened in theaters in March and quickly shattered internal records to become Amazon MGM Studios’ highest-grossing release to date. Of course, the movie business is notoriously unpredictable, and even a powerhouse like Amazon is not immune to missteps; the studio also experienced at least one notable and heavily discussed box office flop this year with the release of Melania.
Beyond the silver screen, Amazon’s television division continues to cement Prime Video as a cultural touchstone with a steady pipeline of returning hits and breakout sensations. During the quarterly earnings call, Jassy highlighted a diverse slate of television programs driving heavy engagement, including Carrie, The Summer I Turned Pretty, The Boys, Off Campus, Fallout, and Reacher.
The action-thriller series Reacher has proven to be a particularly formidable asset for the platform. According to internal company metrics shared by Amazon, the fourth season of Reacher drew a massive 66 million viewers globally in its first 28 days of availability. The momentum for the character is showing no signs of slowing down, as the fifth season is currently in production, and Amazon has already officially picked up the show for a sixth season.
Live sports have likewise served as a powerful catalyst for audience acquisition and retention on the platform. Prime Video has steadily expanded its sports portfolio to broadcast major events and leagues, including NASCAR, the Masters, and UEFA Champions League soccer. However, Thursday Night Football has emerged as the crown jewel of Amazon’s sports strategy this year. According to Nielsen figures provided by Amazon, the first six games of the current NFL season have averaged a staggering 17.7 million viewers, marking a notable 16% increase compared to last year’s viewership numbers. Additionally, the streaming service successfully drew over 2 million viewers for the second season of the NBA on Prime, further solidifying its growing footprint in live sports broadcasting.
