On today’s episode of Variety’s “Strictly Business” podcast, Prime Video and Amazon MGM Studios head Mike Hopkins gives a wide-ranging interview about the evolution of Amazon’s media strategy, how the MGM acquisition changed the game, why streamers are investing so much in sports, and why Amazon has no regrets about the Melania Trump documentary film and upcoming series.
Hopkins also touches on Prime Video’s channel business, AI, Amazon/MGM’s approach to feature films, and, of course, the future of James Bond.
Hopkins is an industry veteran who joined Amazon in early 2020 after heading up Sony Pictures Television and Hulu. He also spent more than 16 years at Fox Television, rising through the business and distribution ranks.
Listen to the entire podcast:
Hopkins said Amazon’s video business model is rooted in its Prime membership program, which gives the company a different perspective than its biggest media rivals.
“What[Amazon]has done incredibly well over the last 20 years is build out the Prime membership program around the world, and Prime Video was part of that growth,” Hopkins said. “We’re in a great position where we have hundreds of millions of Prime members around the world, most of them outside of the United States, so this obviously presents a huge opportunity. One of the things that actually brought me to Amazon was the idea that we have a huge and loyal base of Prime members around the world, and how can we leverage that to build a new kind of media company?”
Hopkins explains how the 2022 acquisition of MGM changed the face of Amazon’s media business. This not only gave us a rich library and IP options, but also the ability to distribute theatrical films. Hopkins reaffirmed that Amazon intends to release about 15 movies a year. He also pointed to Amazon’s recent financial disclosures, noting that Prime Video itself is now a profitable and growing division within the vast company that has carved out a unique place in global commerce and culture.
“We’re now a profitable business in its own right and a large, growing operation within Amazon. We’re not separating out Prime Video (in revenue),” he said. “The introduction of advertising to Prime Video a few years ago not only allowed us to pivot revenue-wise, but also allowed us to reinvest in more programming for our customers.”
Hopkins points out that Amazon signed the NBA deal shortly after Prime Video began advertising. “If it weren’t for the fact that we started out in the advertising business, I don’t think we would have had the balance sheet or income statement to make that deal,” he says. “Our commitment has been to reinvest as much of our profits as possible so that we can not only maintain our financial institution, but also continue to provide great storytelling to our customers. This is just the beginning. We intend to continue to build, grow and expand over the coming years.”
Hopkins also addressed the controversy that arose when Amazon MGM Studios raised $40 million to acquire the first lady Melania Trump’s documentary “Melania” in early 2025. He made no apologies for taking on the project, which sparked concerns that Amazon was trying to curry favor with the Trump administration with licensing fees far above the market average for nonfiction films.
“Producers have said publicly that it was a very competitive bidding process, and we certainly felt that during the negotiations,” Hopkins said. “If you look at Melania’s performance in the framework of things, it’s the biggest non-music documentary box office in a decade. And when it comes to Prime, when a movie does well at the box office, it does very well on Prime. And this is no different. It did really well. We’re releasing a companion later this year. We’re going to have another bite when we release the documentary series. So, expect that to continue to be shown as well. And of course, like Project Hail Mary and The Lamb, those movies will be available to customers for a very long time.”
“Strictly Business” is Variety’s weekly podcast featuring conversations with industry leaders about the business of media and entertainment. (Click here to subscribe to our free newsletter.) New episodes are published every Wednesday and available for download on Apple Podcasts, Amazon Music, Spotify, Google Play, SoundCloud, and more.
