{"id":8768,"date":"2013-04-08T11:46:32","date_gmt":"2013-04-08T15:46:32","guid":{"rendered":"https:\/\/bejone03.expressions.syr.edu\/trf235\/?p=8768"},"modified":"2013-04-13T20:11:12","modified_gmt":"2013-04-14T00:11:12","slug":"mgm-2","status":"publish","type":"post","link":"https:\/\/bejone03.expressions.syr.edu\/trf235\/2013\/04\/08\/mgm-2\/","title":{"rendered":"MGM"},"content":{"rendered":"
by Lyndsey Lombard<\/pre>\n
\"Image<\/a>
Image courtesy of articles.latimes.com<\/p><\/div>\n
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a010250 Constellation Blvd.\u00a0Los Angeles, CA 90067 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0310.449.3000 \/ www.mgm.com<\/p>\n
A Brief History<\/strong><\/p>\n
MGM (Metro-Goldwyn-Mayer) Studios<\/a> is an American media and entertainment company that produces and distributes films and television programs. It was founded in April 1924 and has been producing classic films since then such as \u201cRocky,\u201d \u201cWest Side Story,\u201d and \u201cThe Wizard of Oz.\u201d While the company has not been producing as many movies independently after coming back from bankruptcy in 2010, it still is responsible for distributing many recent popular films [1]<\/a>. MGM currently has a distribution deal with Sony Pictures Entertainment<\/a>, which allowed it to distribute the most recent Bond movie, \u201cSkyfall” [2]<\/a>. Some of the current films MGM has co-produced are \u201cThe Hobbit,\u201d \u201c21 Jump Street,\u201d and \u201cHansel and Gretel.”<\/p>\n
Key Figures<\/strong><\/p>\n
\"Image<\/a>
Image courtesy of aceshowbiz.com<\/p><\/div>\n
 <\/p>\n
Gary Barber<\/span> is Chairman and CEO of MGM, Inc. and has held this position since October 2012. Previously, he served as Co-Chariman and CEO since December 2010 alongside Roger Birnbaum. Barber and Birbaum founded Spyglass Entertainment together in 1998 [3]<\/a>. With Barber’s help, MGM has been able to make a strong comeback after declaring bankruptcy in 2010.<\/p>\n
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\"Image<\/a>
Image courtesy of latimesblogs.latimes.com<\/p><\/div>\n
Ken Schapiro<\/span> took on the title of Chief Operating Officer in February 2011. He was previously the co-founder of the private investment management company, Qualia Capital LLC\u00a0[3]<\/a>.<\/p>\n
\"Image<\/a>
Image courtesy of www.hollywoodreporter.com<\/p><\/div>\n
As President of the Motion Picture Group, Jonathan Glickman<\/span>, is in charge of the production and development of all MGM films. He too has a successful history prior to this position at Spyglass Entertainment [3]<\/a>.<\/p>\n
Financials<\/strong>
\n<\/b><\/p>\n
The future is looking up for MGM post-bankruptcy.\u00a0 After MGM acquired Carl Icahn\u2019s stake for $590 million in July 2012, the company went public [4]<\/a>.\u00a0 According to the 2012 year-end results, revenue was up 97% over 2011.\u00a0 They reported total revenue of $1.38 billion, which was an increase of $681 million from the prior year.<\/p>\n
\u201cSkyfall\u201d and \u201cThe Hobbit: An Unexpected Journey\u201d landed MGM with two films in the top 15 of box office history.\u00a0 These two films also gave MGM the title of being the only studio to have two back-to-back films make $1 billion at the box office.<\/p>\n
\"Image<\/a>
Image courtesy of imdb.com<\/p><\/div>\n
\u201cSkyfall\u201d was named the biggest James Bond release of all time and also the biggest film in the UK by crossing the \u00a3100 million mark.<\/p>\n
The total home entertainment revenue of 2012 was greater than that of 2011 even though no new titles were released. The fourth quarter was extremely strong with $96 million in revenue, which shows how successful the promotions for James Bond 50th<\/sup> anniversary were.\u00a0 The worldwide home entertainment generated a total of $195 million, which was $1 million more than the prior year.<\/p>\n
The worldwide television licensing revenue generated a total of $395 million, which was also a large increase by $23 million from the prior year.<\/p>\n
The 2012 Adjusted EBITDA showed a 48% increase to $286 million.\u00a0 It was adjusted due to revenue growth.\u00a0 The revenue growth was so substantial that it offset the increase in marketing, distribution, and operating expenses [5]<\/a>.<\/p>\n
Recent Releases<\/strong><\/p>\n
\"Image<\/a>
Image courtesy of www.comingsoon.net<\/p><\/div>\n
Trailer: http:\/\/www.youtube.com\/watch?v=TB11JlyjmkE<\/a><\/p>\n
Hansel & Gretel: Witch Hunters<\/a> was released January 25, 2013 and directed by Tommy Wirkola.\u00a0 MGM co-produced it with Paramount. It is a twist on the children\u2019s fairy tale, Hansel & Gretel.\u00a0 In the movie, Hansel and Gretel are all grown up and now bounty hunters that kill witches. \u00a0It was released in 3D and IMAX. The movie made $19 million in its opening weekend and $219 million total worldwide. It made a lot more money overseas than domestically.\u00a0 Its production budget was $50 million [6]<\/a>. Hansel & Gretel will be released on Blu-ray and DVD on June 11, 2013.<\/p>\n
\"Image<\/a>
Image courtesy of www.comingsoon.net<\/p><\/div>\n
Trailer: http:\/\/www.youtube.com\/watch?v=QLR3HrV71yM<\/a><\/p>\n
G.I. Joe: Retaliation<\/a> was released March 29, 2013 and directed by Jon M. Chu.\u00a0 This is the third movie out of the series and it starred new cast members such as Dwayne \u201cThe Rock\u201d Johnson and Bruce Willis.\u00a0 It was #1 its opening weekend making $40 million.\u00a0 Its total worldwide gross is $231 million so far.\u00a0 Its production budget was $130 million. This movie was also released in 3D and IMAX [6]<\/a>.<\/p>\n
Upcoming Films<\/strong><\/p>\n
\"Image<\/a>
Image courtesy of imdb.com<\/p><\/div>\n
Trailer: http:\/\/www.youtube.com\/watch?v=H369sxjyhx8&feature=player_embedded<\/a><\/p>\n
Carrie<\/a> is an upcoming horror film that is the third adaptation of the Stephen King\u2019s 1974 novel, Carrie<\/span>. The film is co-produced by MGM and Screen Gems. It stars Chloe Moretz and Julianne Moore.\u00a0 The release date is set for October 18, 2013. With this release, MGM and Screen Gems are hoping to stay as close to the original novel\u2019s storyline.\u00a0 Their current promotion for the movie is extremely original.\u00a0 At the end of the trailer, they provide you with a toll free number to call, which plays back a scene with the characters.
\n<\/a><\/p>\n
Future MGM Films<\/strong><\/p>\n
There is definitely a trend of adaptations and remakes in MGM\u2019s upcoming film releases.\u00a0 Two other upcoming releases are \u201cRoboCop,\u201d which is set to release February 7, 2014, and \u201cHercules: The Thracian Wars,\u201d which is set to release August 8, 2014.<\/p>\n
\"Image<\/a>
Image courtesy of www.comingsoon.net<\/p><\/div>\n
\u201cRoboCop\u201d is a science fiction action film that will feature Samuel L. Jackson, Michael Keaton, and Gary Oldman.\u00a0 It is a remake of the original 1987 film. Jos\u00e9 Padihla, a Brazilian film director, who has not released a feature film in the U.S. yet, will direct it [7]<\/a>.<\/p>\n
\u201cHercules: The Thracian Wars\u201d will feature Dwayne \u201cThe Rock\u201d Johnson as Hercules in this adaptation of the Radical Studios graphic novel from 2008.\u00a0 Its main competition in the box office will be Disney\/Marvel\u2019s \u201cGuardians of the Galaxy,\u201d which is set to release a week prior.\u00a0 If this movie is successful, it could lead to another franchise for MGM [8]<\/a>.<\/p>\n
More recently MGM has teamed up with GK Films to develop a new Tomb Raider franchise based on the Lara Croft video game franchise. The two original films from 2001 and 2003 that starred Angelina Jolie grossed $432 million worldwide so MGM hopes to achieve the same success [9]<\/a>.<\/p>\n
\"Image<\/a>
Image courtesy of www.filmofilia.com<\/p><\/div>\n
\u201cThe Hobbit\u201d trilogy was confirmed in a MGM news release this past February.\u00a0 The second film, \u201cThe Hobbit: The Desolation of Smaug\u201d was given a December 13, 2013 release date and the third film, \u201cThe Hobbit: There and Back Again,\u201d was officially given the release date of December 17, 2014. The first film in the trilogy did so well that they hope the success will follow throughout.\u00a0 MGM is co-producing these films 50\/50 with New Line Cinema [10]<\/a>.<\/p>\n
With all of these plans in place, MGM’s future looks strong and successful.<\/p>\n
Sources<\/strong><\/p>\n
1. MGM History<\/a><\/p>\n
2. Sony Pictures Deal<\/a><\/p>\n
3. MGM Today<\/a><\/p>\n
4. Carl Icahn sells stake in MGM<\/a><\/p>\n
5. MGM 2012 Year-End Results<\/a><\/p>\n
6. Box Office Mojo<\/a><\/p>\n
7. RoboCop Release<\/a><\/p>\n
8. Hercules Release<\/a><\/p>\n
9. Tomb Raider Franchise Announcement<\/a><\/p>\n
10. The Hobbit Trilogy Announcement<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"
by Lyndsey Lombard \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a010250 Constellation Blvd.\u00a0Los Angeles, CA 90067 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[28,9,867],"tags":[423,470,1396,1374,775,226,1087,220,1398,1307,221,426,116,1036,111,1397,1309,1308],"_links":{"self":[{"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/posts\/8768"}],"collection":[{"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/users\/237"}],"replies":[{"embeddable":true,"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/comments?post=8768"}],"version-history":[{"count":100,"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/posts\/8768\/revisions"}],"predecessor-version":[{"id":13208,"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/posts\/8768\/revisions\/13208"}],"wp:attachment":[{"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/media?parent=8768"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/categories?post=8768"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/tags?post=8768"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}