Amazon Video Entertainment Operations, which includes Amazon Studios and Prime Video, has hired Sony Pictures Television Chairman Mike Hopkins to be its new head.
What Happened
Hopkins is all set to join Amazon.com Inc. (AMZN) to oversee the company’s Prime Video and Amazon Studios. He will be reporting directly to Jeff Bezos beginning February 24.
Mike Hopkins served as Chairman of Sony Pictures Television, a company owned by the Sony Corporation (SNE), which he joined in 2017 after working as CEO of Walt Disney Co. (DIS) owned Hulu for four years. Hopkins steps into the shoes of Jeff Blackburn, Amazon’s senior vice president of business and corporate development, who is on sabbatical until 2021.
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Why It Matters
Blackburn is one of the longest-serving executives at Amazon, having joined 20 years ago. He is considered a close advisor to Jeff Bezos and reported directly to him. He was also seen as one of the most likely candidates to succeed the CEO. The announcement of his sabbatical had unnerved investors on Wall Street.
The move of Hopkins to Amazon is significant as he has a background in streaming, studio production, and TV distribution. Before he worked at Hulu, Hopkins was at 21st Century Fox as a senior executive.
It is expected that Hopkins will drive Prime Video’s global growth and focus on improving customer satisfaction.
Price Action
Amazon shares traded 0.46% higher at 2,143.70 in the pre-market session on Tuesday. The shares had closed the regular session 2.63% higher at $2,133.91.
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