Amazon MGM Studios has dropped a major bombshell about the next James Bond instalment tapping power producers Amy Pascal and David Heyman to take the lead. These two titans of the film industry are no strangers to blockbuster franchises, with Pascal steering the Spider-Man series and Heyman masterminding all eight Harry Potter films to massive success. Amazon MGM Studios’ Head of Film, Courtenay Valenti, expressed immense confidence in the new producers.

“We are approaching every creative decision with James Bond, which Barbara Broccoli and Michael G. Wilson have so masterfully steered, with the greatest sense of responsibility,” Valenti stated. She hailed Pascal and Heyman as "part of an elite group of producers who have developed and managed massive film franchises to box office success and critical acclaim." The studio is buzzing with anticipation, expecting the upcoming Bond saga to continue the legacy of one of cinema's most enduring characters.

Pascal will produce the film via Pascal Pictures, with Heyman producing via Heyday Films. It was made immediately clear if they would be producing Bond titles beyond the immediate next film. “We are honoured to be working with them on James Bond’s next chapter and are excited to deliver to global audiences storytelling that upholds the impeccable legacy of this beloved character,” Valenti added. The enthusiasm was echoed by Pascal and Heyman themselves, who are ready to dive into their new roles.

“James Bond is one of the most iconic characters in the history of cinema,” the duo said. “We are humbled to follow in the footsteps of Barbara Broccoli and Michael Wilson who made so many extraordinary films and honoured and excited to keep the spirit of Bond very much alive as he embarks on his next adventure.” The selection comes after Amazon MGM closed a deal with Barbara Broccoli and Michael G. Wilson, the producers whose family has been producing 007 movies since the 1960s, to take over creative control of the Bond franchise.

While the pair will remain co-owners of the franchise, the transaction has handed Amazon complete creative authority over Bond 26 and beyond. Pascal, while at Sony, saw the 007 franchise to its best grosses of its franchise with Casino Royale, Quantum of Solace, Spectre and Skyfall, the latter the highest grossing in 007 history with $1.1 billion alone. Amazon has reportedly "fast-tracked" production on the next James Bond film following its acquisition of creative control of the iconic franchise and is thought to have already settled on a release date.

Amazon has allocated a substantial £250million budget for Bond 26, £30million more than the amount spent on Daniel Craig's final outing as 007 in No Time to Die. Work is said to have kicked into action in recent weeks, with Amazon executives eager to begin earning back revenue from their significant investment in the franchise. The film is expected to be in cinemas by the end of 2027, with Amazon pushing for filming to be completed by the end of next year.