MGM’s NTTD shift may cost $30M-$50M, THR says

New No Time to Die poster

Metro-Goldwyn-Mayer may take a hit of $30 million to $50 million by moving No Time to Die’s release date, The Hollywood Reporter said. But not moving the date could have cost more, the outlet said, citing people it didn’t identify.

MGM, James Bond’s home studio, Eon Productions and Universal (the international distributor) said this week the 25th James Bond film is being moved to November from April.

THR said MGM “fully financed” No Time to Time, which has an estimated production budget of $250 million.

The entertainment news outlet said had MGM stuck with the April release, that would have been more costly because of markets where theaters were shut down because of the coronavirus.

Theaters in China, Japan and Italy have been closed. “That could have resulted in a minimum of 30 percent shaved off the final box-office tallies — a possible $300 million out of a likely $1 billion haul at the worldwide box office,” THR said.

Earlier this week, the MI6 James Bond website and The James Bond Dossier urged MGM, Universal and Eon Productions to delay the release because of health hazards stemming from the coronavirus. The open letter was published March 2 and the decision to delay was announced March 4.

The open letter, besides citing the health risks, said No Time to Die faced lower box office prospects because of efforts to combat coronavirus.

“Of the countries with large public gatherings banned or restricted, their combined ‘SPECTRE’ box-office was $313m, or 38% of the global haul,” the open letter said. SPECTRE, released in 2015, was the most recent Bond film.

One Response

  1. I. agree with the shift of Release date, there’s too much to loose Financially at this time. by November 2020 Things could possibly change where the Corona-virus is concerned.

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