NO TIME TO DIE: MGM Will Take A Possible $50 Million Hit By Moving JAMES BOND 25 To November

NO TIME TO DIE: MGM Will Take A Possible $50 Million Hit By Moving JAMES BOND 25 To November

We found out yesterday that MGM had decided to push the release of No Time To Die by over seven months due to coronavirus concerns, and it's now been revealed that this move will cost the studio... a lot!

News
By MarkCassidy - Mar 05, 2020 05:03 PM EST
Filed Under: James Bond
It was announced yesterday that, amid growing concerns surrounding the Coronavirus outbreak, MGM had decided to delay the release of No Time To Die by over 7 months. Now, THR reports that this move will likely cost the studio between $30 million and $50 million before all is said and done - but the alternative would have been costlier still.

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The fact of the matter is, Bond movies do very well in China, and there are currently around 70,000 theaters closed in the Middle Kingdom alone with no plans to reopen anytime soon. Had MGM stuck with the original release date, it's estimated that the film could have had a minimum of 30 percent shaved off its final box-office tallies — a possible $300 million out of a likely $1 billion worldwide haul.

It certainly sounds like they chose the lesser of two evils.

There's a lot of speculation that NTTD may just be the first of many big tentpole releases to take this kind of action, but Disney does maintain that Black Widow, at least, will be staying put. Likewise Universal's Fast 9.

Originally scheduled to hit theaters on April 2 in The U.K. and April 10 in The States, the 25th James Bond movie has been pushed back until November 12, 2020 in the U.K. and November 25, 2020 in the US.
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tmp3
tmp3 - 3/5/2020, 5:10 PM
Foreign cinemas closing is gonna [frick] over a lot of movies. Mulan is really dependent on China, but by the time it actually opens there a lot of the moviegoing public might have already seen it online, especially with how high their piracy rates are. This is assuming that the virus doesn't spread exponentially in the next few weeks to the point where domestic cinemas are shut down too.
BeyondtheFuture
BeyondtheFuture - 3/5/2020, 5:14 PM
Oh boy are they in for a nasty shock when the virus disappears and comes back bigger and badder than ever in the fall.
GhostDog
GhostDog - 3/5/2020, 5:24 PM
All the studios not budging when they see Universal


NicolausCopernicus
NicolausCopernicus - 3/5/2020, 5:35 PM
all of craig´s bond movies have been released on november
I dont buy the coronavirus excuse for a second
Se4M4NSt4ine
Se4M4NSt4ine - 3/5/2020, 5:40 PM
@NicolausCopernicus -
MosquitoFarmer
MosquitoFarmer - 3/5/2020, 5:36 PM
Their loss, unfortunately. We still get to enjoy the movie in the end.
TheUnworthyThor
TheUnworthyThor - 3/5/2020, 5:43 PM
And that’s why so many movies are hesitant to move dates and most will stay put. They are going to lose a lot of money with all the theaters closed but they’ll lose money moving too. But everything is up in the air if things unfortunately continue to get worse.
Cbmfilmjunkie
Cbmfilmjunkie - 3/5/2020, 5:46 PM
BW should be fine, maybe. Lol

The Virus could have a readily available vaccine by then and the pandemic could slow down, then again it could get significantly worse and all hell breaks loose.
Ha1frican
Ha1frican - 3/5/2020, 5:53 PM
That sucks, but they probably would have lost more by losing China as a market altogether
bcom
bcom - 3/5/2020, 6:14 PM
Although Bond movies have traditionally had a November release, I'm wondering if it would've made much of a difference to have kept the April release date for everywhere else and opened in China once things settled down? Apparently they are reporting dramatically fewer new cases of the virus daily in the wider mainland China area. It used to be thousands of new cases daily but it's down to a few hundred or so. Perhaps they are actually getting on top of it.

My doctor said that a virus, regardless of what it is, has a finite window of time to replicate and spread. The longevity of it's life cycle is determined by how many hosts it has. Basically, Coronavirus can't go on forever, but it could become seasonal like the cold or flu, but by then we'll have a vaccine so it's all about maintaining and learning from the initial outbreak. My doctor is German so he never overstates or understates anything LOL.
Shroombeast
Shroombeast - 3/5/2020, 7:27 PM
Seems like a calculated risk moving it to November, plenty of competition there. Godzilla Vs Kong opens one week ahead of it, a Disney (Pixar?) film comes out soon after, and Eternals will almost certainly still be drawing crowds.
JDL
JDL - 3/5/2020, 8:39 PM
@Shroombeast - Godzilla vs Kong will move or die. Their choice. As for Eternals this will open 20 days before that so I can't see that much of an effect. Pixar should be a somewhat different demo and this date gives them (MGM) Thanksgiving. So I have to disagree with ya.
Shroombeast
Shroombeast - 3/5/2020, 9:35 PM
@JDL - Gonna have to respectfully disagree right back. Marvel movies have pretty significant longevity, 3 weeks later it's still going to be pulling in audiences. Unless it gets terrible early reviews and Eternals/Bond do even better than expected, GvsK should still do decently, though out of all these movies it's the most at risk likely. Pixar being a different demographic didn't help the competition much last year. Kids don't usually pay for their own movie tickets, so that's cutting into many of the same wallets as the other films.

The box office has been kind of unpredictable lately though, so it should be interesting to see how 2020's potential blockbusters fare, especially with the virus throwing everything upside down.
JDL
JDL - 3/5/2020, 8:38 PM
Whether or not you can move depends on how much you're losing on P&A. If Bond is losing 30 million atm its all due to P&A they either can't stop or which has already happened. P&A now won't help a lot if you are opening more than a couple of months in the future.

Much of the PA is in the 4-6 weeks prior to the opening so anything opening more than 4 weeks from now probably wouldn't lose a ton if it were moved. The real problem for the major studios is that if you move something you end having to move a bunch of other things which is messy. Smaller studios don't have this complication.
Shroombeast
Shroombeast - 3/5/2020, 9:32 PM
@JDL - Gonna have to respectfully disagree right back. Marvel movies have pretty significant longevity, 3 weeks later it's still going to be pulling in audiences. Unless it gets terrible early reviews and Eternals/Bond do even better than expected, GvsK should still do decently, though out of all these movies it's the most at risk likely. Pixar being a different demographic didn't help the competition much last year. Kids don't usually pay for their own movie tickets, so that's cutting into many of the same wallets as the other films.

The box office has been kind of unpredictable in recent years though, so it should be interesting to see what happens. Especially with the damn virus throwing everything upside down.
JDL
JDL - 3/6/2020, 10:24 AM
@Shroombeast - If you move it this late you will have to move something else. But more importantly what you will move will imo come up against more competition than it would otherwise. YMMV.
dreamactor
dreamactor - 3/5/2020, 11:47 PM
Here we go again this time delay of the Release. The filming has already finish
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