For the late James Bond producer Albert 鈥淐ubby鈥� Broccoli, receiving the Irving G. Thalberg Memorial Award was a true high point in his career. He said as much accepting the prize, a non-competitive honorary Oscar, at the in 1982.

presented it to him that night while his family in the audience looked on, including his daughter, Barbara Broccoli, who was reduced to a puddle of tears, and her brother, Michael G. Wilson.

鈥淗e always treasured it,鈥� Barbara Broccoli said in a recent interview with The Associated Press. 鈥淚t was the most important physical possession he had.鈥�

The award, then a bust of the inimitable 鈥渂oy wonder鈥� producer of Hollywood鈥檚 early years, sat on his mantlepiece for many years. Now, Broccoli, 64, and Wilson, 82, are following in 鈥淐ubby鈥檚鈥� footsteps as the 40th recipients, collecting the Oscar statuette Sunday at the in Hollywood.

鈥淚t鈥檚 a rare honor, and I think that makes it extra special,鈥� Wilson said.

Since its inception in 1937, the award has only been given 39 times, celebrating creative producers for a lifetime of quality films. The roster of honorees is a who鈥檚-who of Hollywood legends from David O. Selznick and Walt Disney to Steven Spielberg and George Lucas. And only once before Broccoli has it gone to a woman, .

鈥淚t鈥檚 very humbling,鈥� Broccoli said. 鈥淚 think of so many people who have come before us, so many people I wish had been given the honor who aren鈥檛 with us anymore.鈥�

Though she is quick to point out all the others she thinks more deserving, the fact is that no one quite occupies the space that Broccoli and Wilson do as the guardians of the Bond franchise, one of the longest running film series in history.

Since Cubby and Harry Saltzman purchased the rights to Ian Fleming鈥檚 novels in 1961, the 25 films released by EON productions have grossed over $7.6 billion at the global box office. And despite all odds, the major creative decisions, including who gets to be Bond, have stayed in the family through massive changes in the business, including new corporate overlords.

For many years, EON split profits with MGM, which financed and distributed the movies. But that got slightly more complicated in May 2021, several months before , opened, when for $8.45 billion. The siblings continue to own 50% of Bond and maintain creative control over its future. They鈥檙e also adamant about theatrical.

鈥淧eople are playing it very safe. I think in times of crisis like this, you鈥檝e got to be brave,鈥� Broccoli said. 鈥淚t鈥檚 certainly a new era in the movie business, so we鈥檙e trying to figure it out.鈥�

Broccoli has been entrenched in the world of Bond her entire life. She was only a year old when the deal was signed and spent much of her youth on sets around the world. One of her earliest memories was filming 鈥淵ou Only Live Twice鈥� in Japan. She was 6.

Her father鈥檚 passion for the films was infectious and she followed him into the business, learning the trade from the ground up. Though she didn鈥檛 quite start without connections, as Cubby had when he came to Hollywood in 1934, she never shied away from doing 鈥渢he dirty work.鈥� During one indie shoot, she remembers scrubbing toilets before the wrap party.

Wilson came into the family when his mother married Cubby in 1959. With two actor parents, he didn鈥檛 imagine a career in entertainment for himself. Instead, he pursued law. Then Cubby asked for his advice during a dispute, Wilson 鈥渃aught the bug鈥� and never looked back.

Cubby passed the torch to the kids in 1995; he died the next year. Since then, Wilson has operated as the business affairs person and Broccoli as more of a creative and practical producer. Their different skills and interests were compatible.

鈥淚 think it worked out pretty well,鈥� Wilson said. 鈥淲e were a good team.鈥�

During their tenure, they bid farewell to the Pierce Brosnan era and welcomed Daniel Craig as the seventh Bond; firm in their decision, despite the immense backlash. They also produced non-Bond films, like

But the spotlight on them has intensified as the world awaits official word on Bond No. 8. People are always playing the guessing game with the role, whether it was the long-running fan campaign for Idris Elba or any number of promising young actors who pop on the scene. The latest, stickiest rumor is , but Broccoli and Wilson are staying tight-lipped on even a general timeline for when an announcement might come.

鈥淚t鈥檚 a big decision,鈥� she said.

They鈥檝e teased some things: It will be a man. He鈥檒l likely be in his 30s. Whiteness is not a given. And whoever says yes is doing so with the expectation of at least a decade鈥檚 worth of films. One thing is certain: There鈥檚 going to be a period of adjustment for audiences in the transition. Every Bond had its detractors, especially at the start. Broccoli saw firsthand the vitriol of the internet era when Craig was cast (鈥渁nti-Daniel nonsense,鈥� she called it.)

But when people finally saw 鈥淐asino Royale,鈥� the sentiment shifted to love. The five Craig Bonds are the highest grossing in the series, not adjusting for inflation. It remains one of her proudest moments. And a new Bond means new opportunity.

鈥淓very time we cast a new actor, the films change. It鈥檚 the excitement of a new Bond, a new direction,鈥� Wilson said. 鈥淓very one of these people who took on the role offered something new and different.鈥�

Plus, they鈥檙e playing the long game with Bond, producing and cinema in general. And not losing sight of the Cubby spirit.

鈥淗e always said films were like the circus coming to town,鈥� Broccoli said. 鈥淵ou set up your tent, everybody comes and you create magic. It鈥檚 all about pleasing the audience, making sure that people get their bang for their buck.鈥�