Studios committed to NTTD release date, newsletter says

No Time to Die logo

SECOND UPDATE (12:34 a.m., Aug. 20): The COVID-19 situation may be moving faster. MI6 HQ (James Bond MI6 website tweeted out that Australia has postponed No Time to Die to Nov. 11 from Oct. 8. Theater lists like this one from an Imax theater carry the Nov. 11 date. Later, MI6 HQ tweeted that New Zealand is also delayed to Nov. 11.

ORIGINAL POST: Metro-Goldwyn-Mayer and Universal “are said to be committed” to No Time to Die’s current Sept. 30 U.K./Oct. 8 U.S. release date, according to a newsletter by a former Hollywood Reporter editor which cited “numerous sources” he didn’t identify.

Here’s an excerpt of the newsletter by Matthew Belloni, one-time editorial director at The Hollywood Reporter and a former entertainment lawyer:

No film is under a bigger microscope on this issue than No Time to Die. Numerous sources have told me there just isn’t a way to make much money in the current environment on a $250 million-plus production, but distributors MGM and Universal—with pressure from the Broccoli family, of course—are said to be committed to that Oct. 8 release date. Bond movies typically do nearly 80 percent of their business outside the U.S., particularly in the U.K. (where it’s set to open a week early) and Europe, and Universal is hoping the Delta peak will have passed there.

The passage is part of a larger item about the upcoming CinemaCon, an annual theaters convention and ongoing attendance problems related to COVID-19, including the more contagious Delta variant.

Belloni addressed whether No Time to Die can get a China release.

“China also hasn’t yet allowed the film, but previous Bonds got in (2015’s Spectre grossed $85 million there), and the fall release date was picked in part to avoid the country’s summer ban on Hollywood fare,” he wrote. “It needs every penny from every market.”

No Time to Die’s production cost was closer to $300 million as of mid-2020, according to a U.K. regulatory filing. The 25th James Bond film has been delayed five times — twice related to the departure of original director Danny Boyle (Cary Fukunaga took his place) and three times because of COVID. The film’s original release date was fall 2019.

No Time to Die is being distributed in the U.S. and Canada by United Artists releasing (joint venture of MGM and Annapurna Pictures) and by Universal internationally.

Belloni is part of Puck, a media startup company.

UPDATE I: Belloni was also on a podcast called Hollywood Breakdown. On the podcast, he said one consideration is movies can’t be postponed indefinitely because 1) a film may be seen as stale by audiences and 2) there are marketing costs with each new release date. Belloni also said the thinking is if No Time to Die generates box office of $600 million to $800 million “they’re going to be OK if they can do that.”

‘Intrigue’ at Amazon, MGM over NYT article, newsletter says

MGM logo

A New York Times story on July 6 has created “intrigue” at Amazon and Metro-Goldwyn-Mayer, according to a newsletter by a former editor at The Hollywood Reporter.

The article about MGM film chiefs Michael De Luca and Pamela Abdy generated some “serious eye-rolling at Amazon Studios this week,” wrote Matthew Belloni.

De Luca runs MGM’s film division and Abdy is his deputy. An excerpt from the newsletter:

I’m told Amazon’s famously press-averse executives were “concerned” about the story, mostly because De Luca and Abdy focused on MGM’s theatrical release plans and their strategy of “original ideas and original authorship,” possibly leaving the impression that there will be internal conflict with what Jeff Bezos cited as the primary reason for buying MGM: To “reimagine and redevelop” the studio’s existing I.P. The story also suggested the town might be rooting for De Luca to wrest control of Amazon’s film output from Jen Salke, the current head of Amazon Studios. 

Amazon last month agreed to acquire MGM for $8.45 billion. But the deal is subject to regulatory approval, a process that may take months.

Barbara Broccoli and Michael G. Wilson, in a statement to the Times made clear they’re rooting for De Luca and Abdy.

Referring to Amazon, they said in the statement: “Our hope is that they will empower Mike and Pam to continue to run MGM unencumbered,” MGM is James Bond’s home studio. Eon controls creative matters with Bond while MGM finances the films.

Belloni’s newsletter said the Times story didn’t go over well with Amazon.

“Amazon and the tech companies that run Hollywood these days absolutely hate this posturing crap,” Belloni wrote. MGM and De Luca declined to comment to the newsletter.

No Time to Die, Eon’s 25th James Bond film, is scheduled to be released Sept. 30 in the U.K. and Oct. 8 in the U.S. The Amazon acquisition isn’t likely to be completed before then.