Created by: Jess Kunkel
Metro-Goldwyn-Mayer
MGM Studios Inc.
245 N Beverly Dr.
Beverly Hills, CA 90210 [2]
History
MGM studios, fully known as Metro-Goldwyn-Mayer Productions was formed in 1924 when Goldwyn Pictures and Louis B. Mayer Productions combined to become the company we know so well today [5]. The company began strong and only when multiple changes in power happened in the sixties did things begin to get rocky [5]. Including their file for bankruptcy in the year 2010, the company remained a player in the game, often sharing projects with other large media companies similar to themselves to sustain and finance their more recent work efforts [8]. Nevertheless, MGM and its never-failing Lion originally named “Slats” have undeniably created some of the greatest and best acclaimed pictures of all time.
The company was always known for the number of huge stars that it had in its early days, often referred to have “More stars than there are in the heavens”. With an astounding 175 Academy Awards the corporation is responsible for masterpieces such as The Wizard Of Oz (1939), West Side Story (1961), Rocky (1976), Annie Hall (1977), Dances with Wolves (1990), and many more.
MGM Through The Years
[16].
The Collection
MGM is known to have one of the most extravagant collections of film to date with more than 4,000 titles in their Library.
Executives
Gary Barber
Chief Executive Officer and Chairman
Motion Picture Group, President
Television Group and Digital , President
Chief Financial officer
Financial
Although MGM filed for bankruptcy in the year 2010, the picture company has managed to remain. In 2015, MGM has financially had a much more active year than in 2014. Compared to Q1-Q3 of last year, MGM has seen a 246% change in the their cash flow [21]. While in 2014 the cash flow was noted to be at 170.1 (millions) by the end of the third quarter, the cash flow for 2015 had increase to more than double what it was at the same time last year, at a whopping 417.9 [21].
Since 2013 MGM has dropped 9% in their third quarter revenue, with it marked at 96% in 2014 with proceeds of 233.5 (in millions), and then down even further to 91% in 2015 with revenue noted at 212.1 (in millions) [21]. However Metro-Goldwyn-Mayer’s Net income was on the upswing this third quarter. Compared to the increase of 172% from Quarter 3 in 2013-2014 with net income rising from $16.6 million to $28.6 million the third quarter took an even larger leap in 2015 [21]. With their third quarter net income rising from $28.6 million to $124 million MGM saw a 434% change from the previous year, a very positive sign for the business of MGM [21].
Metro-Goldwyn-Mayer Today
Today MGM focuses most of their work on producing and distributing television and film around the world [3]. Their main focus as of late it to keep creating new content, and to keep acquiring new scripts to produce, and or often is the case Co-produce, as well as to distribute.[23]. MGM is also making new deals to further distribute their films with businesses such as Tubi TV [51].
Recent Releases
Creed
On November 25th, 2015 MGM, partnered with Warner Brothers Studios released the film Creed (2015). The picture is a continuation of the extremely popular Rocky film series. Directed by Ryan Coogler, the sports drama made $29.6 Million in its opening weekend and was able to snag the 10th largest opening of all time [26]. In its first week, the film has already made $42 million, surpassing its budget which is noted to be at around $35 Million [26]. Creed (2015) will continue to be released around the world until early March 2016.
As the seventh film in the Rocky series (1976), the film endeared many a Rocky fan to watch. Throughout the opening weekend it played for a 66% male crowd, and 62% being over twenty-five, and 26% aging from 35-49 years old [27]. Creed is said to have the potential for an oscar running, delightful news for the young director Coogler, and yet another Academy Award for MGM.
Spectre
Only slightly earlier in the year on November 6th of 2015 MGM studio’s, partnered with Sony Pictures released the highly anticipated film Spectre (2015) [28]. Categorized as an action – adventure – thriller, the film is a continuation of the James Bond 007 franchise [28]. Spectre was directed by Sam Mendes and starred Daniel Craig as James Bond. The film took in $70.4 million in it’s domestic opening weekend at the box office, putting Spectre in the spot as the second highest debut weekend revenue for a Bond film, falling behind Skyfall (2012) and yet slightly ahead of Quantum of Solace (2008) [30]. Having only been out a few weeks, the domestic revenue is totaled at $176.8 million as of November 30th [30]. With the Bond Franchise acquiring so many fans across the world most of the revenue is expected to come from the foreign releases of the film, from which it has already made 76.4% of it’s total revenue at $575.3 million [30]. With it’s budget at around $245 Million, the total worldwide revenue of $750 million thus far puts MGM in a very good place moving into the weeks to come [30].
Things to Come
Being such a company, with a history of so many monumental films Metro-Goldwyn-Mayer is hoping to continue the legacy of the company’s name, looking towards the future with many new films to come having 39 titles currently in development [33].
To Name a few
Me Before you : A film based off of an acclaimed novel is expected to debut in March of 2016 [33]. The story entails a small town girl and her unlikely paralyzed friend to whom she tends, with the screenplay also being written by Jojo Moyes,the very author of the novel that originated the story [32]. The film is to be directed by Thea Sharrock, and will star Emilia Clarke, Sam Claflin, Jenna Coleman.
Ben Hur: Currently in development at MGM is the remake of the original1959 film Ben Hur . Set to debut in August of 2016, the film, directed by Timur Bekmambetov is currently in post production. Starring Jack Huston, the film tells the tale of “A falsely accused nobleman survives years of slavery to take vengeance on his best friend who betrayed him.” [40].
Going In Style: Yet another film set to debut in 2016 for MGM studios is Going in Style (2016). The film is a comedy about three retired men who plan to rob a bank, and its cast is loaded with stars including Joey King, Morgan Freeman, and Michael Caine [42]. The movie is a remake of the 1979 original, and is to be directed by Zach Braff.
Other upcoming titles include: The Magnificent Seven (2016), Barbershop: The Next Cut (2016), The Belko Experiment (2016), A Movie Life (2016) just to name a few and many more [33]!
Overview
While the company has not fully recovered from it’s low point in 2010, executives remain confident in the strides that the company is making. While Metro-Goldwyn-Mayer is also exploring the realms of new types of media in other ways, the company is continuing it’s legacy of film and attempting to renew MGM back to it’s great esteem starting with more products being created by the company [3].
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[3]. MGM Studios Corporate. MGM Studios. Retrieved: November 20th, 2015.
[4].MGM Old Logo Still. Youtube Slats the Lion. Retrieved: November 29th, 2015.
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[22]. Cash Flow. Investopedia. Retrieved: November 21st, 2015.
[23]. Working At MGM Studios. Glass Door. Retrieved: November 21st, 2015
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[29]. The Official James Bond Site. 007. Retrieved: November 21st, 2015.
[30]. Spectre box office numbers. Box Office Mojo. Retrieved: November 21st, 2015.
[31]. Pro Spectre (2015). IMDb Pro. Retrieved: November 21st, 2015.
[32]. Me Bofore You (2016). IMDb. Retrieved: November 21st, 2015.
[33] MGM Pro Projects in Development. IMDb. Retrieved: November 21st, 2015.
[34]. Thea Sharrock. IMDb. Retrieved: November 21st, 2015.
[35]. Emilia Clarke. IMDb. Retrieved: November 21st, 2015.
[36]. Jenna Coleman. IMDb. Retrieved: November 21st, 2015.
[37]. Sam Claflin. IMDb. Retrieved: November 21st, 2015.
[38]. Ben Hur (1959). IMDb. Retrieved: November 21st, 2015.
[39]. Timur Bekmambetov. IMDb. Retrieved: November 21st, 2015.
[40]. Ben Hur (2016). IMDb. Retrieved: November 21st, 2015.
[41]. Jack Huston. IMDb. Retrieved: November 21st, 2015.
[42]. Going In Style (2016). IMDb. Retrieved: November 21st, 2015.
[43]. Joey King. IMDb. Retrieved: November 26th, 2015.
[44]. Morgan Freeman.IMDb. Retrieved: November 26th, 2015.
[45]. Michael Caince. IMDb. Retrieved: November 26th, 2015.
[46]. Going in style Original (1979). IMDb. Retrieved: November 26th, 2015.
[47]. Zach Braff. IMDb. Retrieved: November 26th, 2015.
[48]. Me Before You Official Site. Jojo Moyes. Retrieved: November 27th, 2015.
[49]. Rocky (1976). IMDb.Retrieved: November 27th, 2015.
[50]. Creed Official Trailer. Youtube-Warner Brothers.Retrieved: November 28th, 2015.
[51]. Spectre Official Trailer. Youtube- Zero Media. Retrieved: November 28th, 2015.
[52]. MGM & Lionsgate Tubi tv Deal. Deadline. Lieberman, David. November 19th, 2015. Retrieved: November 21st, 2015..