Here’s How Much 007: No Time To Die’s Delay Will Cost MGM
No Time To Die will now release in November 2020 instead of April, and the delay is set to cost MGM a lot of money--but in the long run, it will make more back.
No Time To Die, the 25th James Bond movie, was recently delayed from its original April 2020 release date into November in response to lower global cinema attendance due to the coronavirus (COVID-19). With cinemas shut across China and other parts of the world encouraging citizens to stay indoors, delaying the film made sense for MGM, even though tickets had recently gone on sale.
Sources have told The Hollywood Reporter that this delay will ultimately cost between $30-50 million, as so much has already been spent on promoting the film for an April release. However, releasing the film in April likely would have dropped the film's box office total by 30 percent.
Considering the box office potential for the Bond franchise, the losses will, MGM hopes, be offset by higher attendance. The last time Daniel Craig returned to the series after a lengthy break between films with Skyfall, it made over $1.1 billion worldwide.
As the report points out, MGM spent $4.5 million on a Superbowl spot, and the stars of the film have been on an extensive press tour. Furthermore, Billie Eilish's Bond theme is extremely popular right now--it remains to be seen if it will endure on the charts until November, however.
No Time To Die will release in UK cinemas on November 12, and then in the US two weeks later on November 25.
Disclosure: ViacomCBS is GameSpot's parent company
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