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Moving "No Time To Die" Could Cost MGM $30-$50 Million

Published Fri, 06 Mar 2020 17:25:23 -0600

Earlier this week MGM made the decision to move the release date for the next James Bond movie, No Time To Die, from its original April 2020 release date to November 2020 due to worries that coronavirus will keep people away from movie theaters. This in particular impact movies with large budgets that are looking to make a lot of money in the international box office. Spectre, the previous James Bond movie, made $660 million of its $880 million box office in the international budget. No Time To Die has a rumored budget of $250 million not including marketing so they need the international box office to break even. So delaying makes sense but that doesn't mean it is without consequences.

According to The Hollywood Reporter pushing the movie back could cost MGM $30-$50 million off of the total box office.

Sources tell The Hollywood Reporter that MGM will likely take a $30 million to $50 million hit by moving the film's release back by seven months when the dust settles. Although the bulk of the marketing campaign for the Cary Joji Fukunaga-directed pic — the 25th installment in the storied 007 franchise — had yet to roll out, the marketing outlay already was significant with just four weeks to go before the release, including a $4.5 million Super Bowl spot that ran in February. MGM declined comment.

They go on to say that this loss is likely worth it considering how much MGM is relying on the international box office for star Daniel Craig's last hurrah as James Bond.

No Time To Die, directed by Cary Joji Fukunaga, stars Daniel Craig, Rami Malek, Ralph Fiennes, Lea Seydoux, Naomie Harris, Ben Whishaw, Rory Kinnear, Jeffrey Wright, Dali Benssalah, Billy Magnussen, Ana De Armas, David Dencik, and Lashana Lynch. It is scheduled to be released on November 25, 2020.

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