All they do is just partner with other studios, on a case by case basis.
https://en.wikipedia.org/wiki/List_of_Metro-Goldwyn-Mayer_films#2010s
https://en.wikipedia.org/wiki/United_Artists#United_Artists_Releasing
Are there any "wildcards" which can swoop in and outbid them ?
For example, could Microsoft swoop in and make James Bond, Rocky, Stargate, etc ..... as Xbox exclusives?
I dunno.
The question is if there are any covenants or "poison pills" in the contract(s) between MGM and the Bond franchise, where MGM automatically loses all the rights to James Bond if MGM files for bankruptcy.
Perhaps Broccoli is also betting on the "scarcity" factor and pent-up demand will still be there (or higher), in kicking the can further into the future.
I think this is the key quote from this ^ article:
Broccoli is seen as a staunch traditionalist who is very much in support of the theatrical experience. Furthermore, Bond is a franchise connected to luxury and scarcity, and by going to a streamer there could be a brand hit in her eyes...
(On a tangent).
I have found that when I'm watching shows/movies on my own with nobody else around, I am thinking a lot like a "professor" while watching. Basically figuring what generic tropes are being used, and how the storyline might end up playing itself. Not really being engaged fully...
In the last paragraph of the previously linked variety article, it asserts some of the costs were defrayed by sponsors/advertisers Land Rover, Omega watches, Heineken, etc ....
What's not known is whether these sponsors/advertisers are on board if Bond25 goes the streaming and/or vod route...
(Rambling further offtopic).
I remember a friend who liked going to the local casinos all the time.
I asked her why she likes going to the actual casino, instead of playing the same casino games online. Her response was that she liked the "live action" at the tables and fleeting camaraderie...
Hmmm ..... I haven't thought of it that way.
(More generally).
The notion of watching something with an immediate offline "crowd", may very well still be the primary selling point for other events such as rock concerts, basketball/football games, or even the local sports bar/pub during live...