Eon Productions posts 2021 financial results in U.K. filing

Eon Productions logo

Eon Productions, in a U.K, regulatory filing for the year ended Dec. 31, 2021, said it had a loss before taxes of 48.9 million British pounds ($59.1 million) before taxes.

After taxes, Eon reported a profit of 2.44 million British pounds (almost $2.97 million) after taxes.

To view for yourself and CLICK HERE and click on the entry for Dec. 29, 2022.

2021 was the year Eon’s most recent James Bond film, No Time to Die, was released. The bulk of Bond film finances come from its studio partner, Metro-Goldwyn-Mayer, now part of Amazon.

“The directors (of Eon) consider the results of the group to be in line with expectations,” the filing says. “The results for the year were considered more than satisfactory by the directors who anticipate an increase in the net profitability of the group during periods when a film is released.

“Looking forward, the directors the directors anticipate to display continued growth and profitability whilst concentrating on the next development of its next film toward its production.”

The filing is signed by “M Wilson CBE, Director.” Presumably, that means Michael G. Wilson of Eon Productions.

The financial results were first reported in a Variety story.

Daniel Craig: The Long Goodbye Part Infinity

Daniel Craig in Quantum of Solace

At this rate, Daniel Craig’s goodbye from the role of James Bond will be as long as the running time of the five movies (which included the three longest Bond films) where he played 007.

Variety this week came out with yet another story where the 54-year-old actor says he wanted to stop playing James Bond.

Daniel Craig says he has no regrets about leaving James Bond behind and has revealed that he discussed killing the character with franchise producer Barbara Broccoli.

“No, none at all,” Craig said when asked by Martha Kearney on BBC Radio 4’s “Best of Today” podcast. “I had an incredibly fortunate 17 years of my life making this. I literally want to spend the next 20 years of my life trying to unhook it all and try and put it into a place because it was incredible. I left it where I wanted it to be. And that I was given the chance to do that with the last movie.”

Which is a variation of comments Craig has said in multiple interviews since the long-delayed No Time to Die finally came out in the fall of 2021.

We get it. According to Craig, he wanted to kill off his version of Bond very early into his tenure. Fine. If true, he got his way.

Why is this still a thing?

Partially, it’s because there isn’t much real Bond film news. So, naturally, entertainment reporters keep picking over the scabs of the recent past.

Eon Productions has been doing a victory lap since No Time to Die came out.

Victory lap? More like a victory marathon. But you get the idea.

When last we heard from Eon boss Barbara Broccoli, the production company was still figuring out where to go next. Whatever.

Craig, after cashing in hefty paychecks for Bond, is cashing in even more hefty paychecks from Netflix for playing his Knives Out character. Good for you, Daniel. Being an actor can be a hard way to make a living. At this stage, Craig has made enough money for multiple generations of his family.

In American football, players who score a touchdown spike the ball in the end zone. Figuratively, Craig and Barbara Broccoli are running from end zone to end zone to spike the ball.

It would be nice if Variety, or other major entertainment news outlets, could let us know about the future of Bond films. But that doesn’t seem to be happening.

Henry Cavill says he’s back as Superman

Henry Cavill as Superman in Batman v Superman

Henry Cavill, 39, says he is coming back as Superman after reports in 2018 he was being forced out of the role.

Here is an excerpt from an Oct. 24 story in Variety:

Henry Cavill posted to social media on Monday that he is “back as Superman” following his cameo in the post-credits scene of “Black Adam,” which opened on Friday to $140 million worldwide.

“I wanted to wait until the weekend was over before posting this because I wanted to give you all a chance to watch ‘Black Adam,’” Cavill said in a video posted to his Instagram feed. “But now that plenty of you have, I wanted to make it official: I am back as Superman.”

Cavill, once upon a time (circa 2005), was a contender to play James Bond in 2006’s Casino Royale. He received a screen test before Daniel Craig was hired.

The actor has been favored by some Bond fans to succeed Craig. He played Napoleon Solo in a 2015 movie version of The Man From U.N.C.L.E. as well as playing a villain in a 2018 Tom Cruise Mission: Impossible film.

Cavill probably is too old to be the new Bond. Also, Eon Productions (mostly) doesn’t like to cast actors associated with other franchises. Roger Moore and Pierce Brosnan were the most obvious exceptions.

For a time, it seemed Cavill had lost the Superman gig — which included a 2013 solo Superman movie as well as 2016’s Batman vs. Superman and 2017’s Justice League.

Never say never, it would appear.

Bond 26 questions: The Variety interview edition

A previous Image for the official James Bond feed on Twitter

So, Barbara Broccoli and Michael G. Wilson gave an interview to Variety. The Eon Productions duo again said James Bond won’t return to theater screens soon and they’re looking for the next actor to make a long-time commitment.

However, there were other interesting tidbits. Naturally, the blog has questions.

How many Bond films will get made during an actor’s “10-, 12-year commitment”?

That’s the kind of commitment the Eon pair said they’re looking for from a new Bond actor. But at the current rate of production, that might only be three films. The Eon series had only two entries — Skyfall and SPECTRE — during the entire decade of the 2010s.

Yes, there were external factors, including Metro-Goldwyn-Mayer’s bankruptcy in 2010 and COVID-19 in 2020. But some of the gaps were self-imposed, including putting off the development of what became No Time to Die to try and get Daniel Craig back for another movie.

Will Bond 26 with a new actor really be that much different than Craig’s run?

One passage in the Variety story suggests not.

Both Wilson and Broccoli, who is a director of the U.K. chapter of women’s advocacy org Time’s Up, have left their mark on Bond, particularly in humanizing the once-womanizing spy and ensuring more fulfilling, meatier roles for the female stars of the franchise. These are qualities that will continue in the next films, says Broccoli. (emphasis added)

What are they up to in the interim?

Barbara Broccoli is one of the producers of Till, a fact-based film about the lynching of 14-year-old Emmett Till in 1955 and its aftermath. It’s due out next month. Wilson “has written a TV show that the duo are looking to set up,” according to Variety. And both are involved in producing an Amazon streaming show 007’s Road to a Million. That is currently in production, Variety says. Amazon also owns MGM.

Producers talk to Variety about casting next Bond

Barbara Broccoli and Michael G. Wilson

The next James Bond actor has to be in it for the long haul, producers Barbara Broccoli and Michael G. Wilson told Variety in an interview.

“And when we cast Bond, it’s a 10-, 12-year commitment,” Broccoli said. “A lot of people think, ‘Oh yeah, it’d be fun to do one,’ Well. That ain’t gonna work.”

Wilson told Variety: “It’s a big investment for us, too, to bring out a new Bond.”

Eon’s most recent Bond actor, Daniel Craig, was cast as Bond in 2005 when he was 37. His five-film run as Bond ended with 2021’s No Time to Die. That film ended with Bond being blown to smithereens in a sacrifice play for his wife, Madeline Swann, and daughter.

Variety conducted the interview in late August. At one point, the producers said it’s early days for the search. Broccoli again said Bond 26 won’t go into production soon. “(I)t’s going to be a couple of years off.” 

There was also this exchange:

Even in this interview, when asked whether (MGM owner) Amazon might ask for a narrative Bond TV show, Wilson notes, “We’re trying to keep it theatrical,” and Broccoli swiftly retorts: “Well, we’re gonna keep it theatrical. We’re not going to try; we’ve got to do it. It’s just a theatrical franchise.”

Variety suggests NTTD still is unprofitable

No Time to Die teaser poster

Variety has published a story suggesting No Time to Die still hasn’t made a profit despite becoming the No. 1 box office film in 2021 among non-Chinese productions.

Here is an excerpt:

The action-packed spy spectacle, which endured several coronavirus-related delays, has become the rare pandemic-era box office hit, which is even more impressive considering adult audiences — the core demographic for “No Time to Die” — have been reluctant to return to theaters. However, the movie cost more than $250 million to produce, at least $100 million to promote and tens of millions more to postpone over 16 months. Insiders say “No Time to Die” needs to make closer to $900 million to break even.

No Time to Die cost almost $300 million to produce, according to a U.K. regulatory filing in 2020. And there were THREE COVID-19 delays, not “several.” There were FIVE delays overall. Two were related to how Danny Boyle was replaced as director with Cary Fukunaga.

MGM, replying to Variety, issued a denial.

“Unnamed and uninformed sources suggesting the film will lose money are categorically unfounded and put more simply, not true.”

Just remember: People deny things they know to be true. MGM hasn’t provided any detailed financial information regarding No Time to Die.

According to Variety, MGM crowed about how No Time to Die passed F9: The Fast Saga. (Something that occurred this weekend.) So far, No Time to Die hasn’t matched either 2015’s SPECTRE nor 2012’s Skyfall. That latter is the only Bond film to exceed $1 billion box office in theaters.

Since the advent of COVID-19 in early 2020, the market for theatrical films has shrunk. Before the pandemic, there were 48 movies that had a box office of $1 billion or more. 2012’s Skyfall is No. 28 on that list.

With COVID-19, no movie has reached that worldwide box office level. Some Bond fans don’t like to hear that and have criticized the blog for bringing it up.

That’s how it goes.

Bond 25 questions: The box office edition

No Time to Die has been out for a few weeks. Once a movie is released, entertainment-news outlets chew over the numbers. Fans then react to stories.

Naturally, the blog has questions.

So how well is No Time to Die doing?

As of Oct. 17, it had an estimated box office take of $348.3 million internationally and $99.5 million in the U.S. for a grand total of $447.8 million.

That has been depicted as strong internationally, not so much in the U.S.

Why “not so much” in the U.S.?

Because as recently as Oct. 4, two weeks ago, there were some estimates No Time to Die’s U.S. opening weekend could be $100 million, according to CNBC.

The movie’s final U.S. opening weekend number was $55,225,007, according to Box Office Mojo. That’s nothing to sneeze at but obviously not $100 million.

And the 25th James Bond film’s U.S. opening weekend was below recent movies such as Venom: Let There Be Carnage ($90 million) and Shang Chi and the Legend of the Ten Rings ($75.4 million).

I see estimates it may take a global box office of more than $900 million for the movie to break even. How is that?

The studios split that box office with theaters. Precise figures vary, but a rule of thumb is studios get about 50 percent. In China, that’s only 25 percent. But that’s a huge market, so the studios want to be there.

No Time to Die also was very expensive. A U.K. regulatory filing last year indicated the production cost was nearing $300 million. There were also marketing costs, including a pricey Super Bowl ad, in February 2020. Pandemic-related delays may have boosted the marketing expenses.

The MI6 James Bond website published an analysis on Aug. 2. It said No Time to Die “needs to clear $928m at the box office to avoid losing money.” Other outlets have published similar figures. Variety, in an Oct. 11 story, said the film will need “to gross at least $800 million globally to get out of the red (probably closer to $900 million).”

To be clear, the accountants at Metro-Goldwyn-Mayer, Bond’s home studio, and Universal, handing international distribution, know far more than fans and other outsiders.

Since the pandemic, what movie has had the highest box office?

F9: The Fast Saga at almost $716.6 million.

Can No Time to Die beat that?

The movie is to be released in additional markets. It remains to be seen.

Bond 26 questions: The (eventual) search for a new Bond

Image for the official James Bond feed on Twitter

Barbara Broccoli and Michael G. Wilson of Eon Productions were interviewed on a BBC Radio show on Sept. 27. The duo indicated they weren’t in a hurry to find a successor for Daniel Craig as James Bond.

“We’re not thinking about it at all,” Broccoli said, according to a Variety summary of the interview. “We want Daniel to have his time of celebration. Next year we’ll start thinking about the future.”

Naturally, the blog has questions.

How seriously should we take these remarks?

In general, a CEO always is supposed to be thinking about the future. Barbara Broccoli certainly qualifies as a CEO.

On the one hand, there are signs that Broccoli has at least thought about a post-Craig future for Eon’s Bond film series.

No Time To Die director Cary Fukunaga told Total Film that he had a meeting with Broccoli before he was named to helm the 25th James Bond film.

“At that point Daniel said he wasn’t doing another one, so we spit-balled all the potential new Bonds – that was exciting,” Fukunaga said in that interview.

On the other hand, there are signs that Broccoli is really, really reluctant to let go of Craig. “I’m sort of in denial,” she said in the BBC interview. “I would love for Daniel to continue forever.”

Personally, I take her at her word. She is not anxious to move on from Craig.

Will the search (whenever it starts) be complicated?

Searching for a Bond actor is never easy. The next search will have additional complications.

Metro-Goldwyn-Mayer, Bond’s home studio, has agreed to be acquired by Amazon. But that deal hasn’t been completed and is subject to regulatory review.

It remains to be seen what Amazon will do with MGM assuming the deal goes through. Eon likes some current MGM film executives and has lobbied for Amazon to keep them on board.

Regardless, assuming Amazon completes the deal, that will be an additional piece of complication.

What’s more, Eon has its own issues. Wilson turns 80 next year. There are popular fan theories that he may retire after No Time to Die. Who knows whether that’ll be the case. Still a new Bond isn’t the only succession issue facing Eon.

Reminder: Zimmer isn’t the only NTTD composer

Hans Zimmer

I saw some chatter on social media today expressing surprise that No Time to Die’s score is a joint effort.

So this is just a reminder that Hans Zimmer is not the sole composer on No Time to Die’s score. Back in June 2020, Zimmer himself told Variety it would not be. Her is Zimmer in his own words in the Variety interview.

Well, it was surprising, and let me explain why. I’ve known [producer] Barbara Broccoli for a long time, and we’re friends. I never thought we would work together on something like that, so it was surprising just to get the call. And I asked her if it was okay that Steve Mazzaro, who is one of the most fabulous composers I know, could do it with me, because there was very little time. And of course she said yes. Steve should really be the top name on the Bond film. I hope we’ve done it justice. (emphasis added)

Since then, all of the promotional material for the movie only mentioned Zimmer and didn’t reference Mazzaro.

As noted before, Mazzaro did the score for Eon Productions’ The Rhythm Section, with Zimmer producing the score.

Zimmer, of course, is a big name in movie music. Mazzaro? Not so much.

UPDATE: The No Time to Die soundtrack list is released. The MI6 James Bond website has a copy. The 71-minute soundtrack has 21 selections: 1) Gun Barrel 2) Matera 3) A Message From an Old Friend 4) Square Escape 5) Someone Was Here 6) Not What I Expected 7) What Have You Done? 8) Shouldn’t We Get to Know Each Other First 9) Cuba Chase 10) Back to MI6 11) Good to Have You Back 12) Lovely to See You Again 13) Home 14) Norway Chase 15) Gearing Up 16) Poison Garden 17) The Factory 18) I’ll Be Right Back 19) Opening the Doors 20) Final Ascent 21) No Time to Die.

From 2020: A peek at NTTD’s scoring sessions

One of several images Steve Mazzaro uploaded to Instagram in March 2020.

Back in March 2020, Steve Mazzaro, a composer who assisted Hans Zimmer in doing No Time to Die’s score, posted several behind the scenes images on Instagram.

The photos were originally posted on March 4, 2020, after the movie had the first of three COVID-19 delays in its release date.

Zimmer is the only composer listed on movie posters and soundtrack covers that have been released to date. But Mazzaro is one of the many composers who work for Zimmer. Mazzaro also composed the score for The Rhythm Section, a non-Bond spy film made by Eon Productions.

In a June 2020 interview with Variety, Zimmer said Mazzaro’s contributions to No Time to Die were significant.

“Steve should really be the top name on the Bond film,” Zimmer told Variety. Obviously, it hasn’t worked out that way.

Besides the image above, Mazzaro posted images of himself working with Zimmer at a control board as well as musicians recording the No Time to Die score.

As with anything else concerning No Time to Die, fans will have to wait to see how the movie’s score worked out.