On today’s episode of Variety’s “Strictly Business” podcast, Mike Hopkins, head of Prime Video and Amazon MGM Studios, gives a wide-ranging interview on the evolution of Amazon’s media strategy, how the MGM acquisition has changed the game, why the streamer is investing heavily in sports — and why Amazon has no regrets about the Melania Trump documentary film and the upcoming series.

Hopkins also touches on Prime Video’s channels business, AI, Amazon MGM’s approach to theatrical film and — of course — the future of James Bond.

Hopkins is an industry veteran who joined Amazon in early 2020, after previously heading Sony Pictures Television and Hulu. He also spent more than 16 years at Fox Television, rising through the business and distribution ranks.

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At Amazon, Hopkins observes, the business model for video is rooted in the Prime membership program, which gives the company a different POV than its largest media rivals.

“What [Amazon has] done incredibly well over the last 20 is build the Prime membership program globally. And Prime Video has been part of that growth,” Hopkins says. “We sit in a great spot where we have hundreds of millions of Prime members around the world, most of which are outside the United States. So that’s obviously given us a very big opportunity. One of the things that actually brought me to Amazon was the idea that there’s this large engaged base around the world of Prime members and how can we leverage that to build a new kind of media company as well?”

Hopkins explains how the acquisition of MGM in 2022 has changed the complexion of Amazon’s media business. It not only brought a deep library and IP options, it gave the company the ability to distribute theatrical films. Hopkins reaffirms that Amazon intends to release about 15 films per year. He also points to Amazon’s recent earnings disclosure that Prime Video itself is now a profitable and growing unit within the sprawling firm that has carved out a unique place in global commerce and culture.

“We are now a profitable business in our own right and a growing and large operation within Amazon. We don’t segment Prime Video out [in earnings],” he says. “The advent of advertising on Prime Video back a couple of years ago has really given us not only the ability to turn the corner on the profit side, but also to reinvest in more programming for customers.”

Hopkins notes that it was shortly after Prime Video’ launched advertising that Amazon struck its deal with the NBA. “I don’t know that we would have had the balance sheet or the P&L to do that deal if it weren’t for the fact that we started down the journey with advertising,” he says. “Our commitment was to get our financial house in order but also to reinvest as much of our revenues as possible so that we can continue to bring great storytelling to customers. It’s just the beginning. We’re going to continue to build and grow and expand over the next few years.”

Hopkins also addresses the controversy that emerged in early 2025 when Amazon MGM Studios ponied up $40 million to acquire the documentary “Melania” on first lady Melania Trump. He makes no apologies for taking on the project, which raised the specter of Amazon trying to curry favor with the Trump administration with a rich license fee far above the market average for nonfiction films.

“The producers have also said publicly it was a very competitive bidding process, which we certainly felt in the negotiation,” Hopkins says. “When you look at the performance of Melania in the scheme of things — largest non-music documentary box office opening in 10 years. And when it comes to Prime, when a movie does a good box office, it performs really well on Prime. And this is the same. It did really well. We’ll have another bite at the apple when we release the companion docu-series later this year. So expect that to also continue to run. And then of course, just like ‘Project Hail Mary’ or ‘Sheep Detectives’ or other movies, it’s going to be available for 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. (Please click here to subscribe to our free newsletter.) New episodes debut every Wednesday and can be downloaded at Apple Podcasts, Amazon Music, Spotify, Google Play, SoundCloud and more.