Bond 25 questions: MGM’s silence edition

MGM’s revamped logo

Metro-Goldwyn-Mayer held an investor call the other day. But the home studio to James Bond had almost nothing to say about its prized property.

Naturally, the blog has questions.

What was the context of what MGM did have to say about No Time to Die?

Essentially listing it among various films either awaiting release or in production. Others included Respect, a “biopic” with Jennifer Hudson portraying Aretha Franklin and a sequel to a recent animated Addams Family movie.

MGM executives said its film slate, coupled with its TV business would mean good financial results in the second half of 2021 and going into 2022.

Is that all?

Pretty much.

What is up with that?

Strictly a guess: MGM is trying to project an image of a strong operation where everything is under control. In the past year there have been reports that MGM is seeking a buyer and that the studio explored licensing No Time to Die to streaming services before deciding not to proceed.

Some of the reports indicate that leaders of Danjaq/Eon weren’t initially informed of such discussions and weren’t happy.

From the perspective of a Bond fan, how useful are these investor calls?

Mixed at best. Occasionally, investors ask MGM executives about Bond film projects and if there are any ways MGM can get more out of the franchise. At times, that generates additional comments. But much of the time, MGM executives stick to talking points.

If there was any surprise about this week’s investor call, it’s MGM didn’t even do that. Just a quick mention that No Time to Die is in pipeline — something all Bond fans knew already.

Is there additional context to keep in mind?

No Time to Die’s costs are approaching $300 million. (The studio reportedly is incurring $1 million a month in interest costs for each month No Time to Die doesn’t come out.) MGM had been counting on a big theatrical release before the COVID-19 pandemic.

MGM says No Time to Die marketing gears up in early 2020

MGM’s Leo the Lion logo

Metro-Goldwyn-Mayer said this week that No Time to Die’s marketing will gear up in early 2020.

The film “wrapped filming in October and is on track for its Easter 2020 release,” Christopher Brearton, MGM’s chief operating officer, said on a quarterly call with investors.

“Marketing is slated to swing into high gear early in the New Year,” he said. “And we couldn’t be more excited about what we have in store for Bond fans around the world.”

The executive didn’t provide any additional details about the 25th James Bond film. There has been fan speculation when the first trailer for No Time to Die will be released. The James Bond & Friends podcast said in August that a rough cut of the trailer existed at that time.

Brearton’s remarks covered other upcoming projects, including a 2021 sequel for MGM’s recent Addams Family animated film (Brearton said Addams Family “will develop into a family franchise.”), Creed III and a new Tomb Raiders movie. Brearton also talked about MGM’s television business.

Also on the call, Chief Financial Officer Kenneth Kay said the company expects No Time to Die to help generate cash for the company. In 2019, MGM has been spending money on the Bond film and other projects as it increases film and TV production as well as investing in its Epix TV channel.

Kay referred to MGM’s movie business in 2020 as a “James Bond-led revitalized film slate.”

Unanswered Questions

Executives dodged two Bond-related questions on the call. The first was whether MGM had conferred with Eon Productions whether the Bond series could produce films on a more regular basis (“maybe every two or three years”) or move into streaming television the way Marvel Studios and Star Wars have. The last 007 film, SPECTRE, came out in fall 2015. MGM and Danjaq, Eon’s parent company, control the Bond franchise.

Brearton replied that MGM is focused on No Time to Die for now. “We’re in constant communication with Barbara (Broccoli) and our partners on the best way to maximize the value of the franchise,” he said.

The MGM executive was also asked about finding the next James Bond actor. Daniel Craig has said No Time to Die is his Bond finale.

“We’re very focused on this film, No Time to Die, in April,” the COO replied. “Going forward, we don’t speculate on that.”