TV & Movies

No Time To Die streaming? MGM ‘suffering’ as James Bond delay costing $1 MILLION a month

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After four delays, No Time To Die is still not released, but rumours are doing the rounds that streaming giants have considered purchasing the North American distribution rights for the new James Bond movie. According to The Hollywood Reporter, MGM was hoping for a deal in the range of $650-800 million. While multiple sources say Apple considered an offer of around $350-400 million.

The studios behind No Time To Die, including EON Productions and international distributor Universal Pictures are hoping for $1 billion at the box office, matching the total of 2012’s Skyfall.

However, MGM is reportedly struggling financially, with the new James Bond movie costing the studio around $1 million a month in interest from borrowed money to make the movie.

Hal Vogel, CEO of Vogel Capital Research said: “MGM is suffering.”

“Every major distributor at this point has a pile of unreleased expensive movies.”

Hal added: “The pile grows larger by the day. These films are inventory. They are sitting there with no return on their investment.

“Even with low interest rates, the interest costs are piling up. So going the streaming route is not that crazy.

“You’ve spent the money. And you’re not getting it back anytime soon.”

It’s also worth noting that MGM only partly owns Bond, with Barbara Broccoli’s EON Productions controlling the other half.

According to multiple sources of the outlet, Broccoli was at first in the dark on the streaming deal exploration.

However, the Bond producer is said to not be on board, being a traditionalist who wants 007 in the cinema.

An insider pointed out that the Bond franchise’s feel for “luxury and scarcity” isn’t exactly on-brand if 007 went to streaming services.

A source added: “It’s a dip into a pool you won’t be able to get out of.”

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By the sounds of it, Bond is sticking well and truly to its April 2, 2021 release date.

However, No Time To Die director Cary Fukunaga won’t rule out yet another delay.

Speaking with The Wall Street Journal, the 43-year-old said: “[No Time To Die] will come out when it’s right.

“It will perform in the context of this new world, in which no-one really can define what success or failure means.”

Fukunaga added: “I think there’s always the potential of that.

“I look at it unemotionally right now… There are so many bigger things happening.

“I have friends who are losing businesses, restaurants, and other friends who have lost family members.”

No Time To Die is currently set for UK release on April 2, 2021.

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