MGM, the film studio behind the James Bond franchise and the upcoming movie No Time to Die, is set to lose around $30 million to $50 million over the decision to delay the film’s release.
No Time to Die was supposed to hit theaters in April, but has been pushed back to November amid the Coronavirus outbreak.
THR is now reporting that the studio is going to lose the big amount of money, but they might have lost even more money if they released the movie in April as planned. The outlet estimates that 30 percent of the box office gross may have been lost by releasing the movie in April. With experts predicting that the movie will gross $1 billion worldwide, that means the movie would have lost around $300 million by hitting theaters on the original date.
It’s also being reported that a marketing campaign for a movie that is released in the fall is more costly due to more expensive commercials slots because of the holiday season.
There have been many reports that the Coronavirus outbreak could go away over the summer, but come back in the fall when the weather cools down again. If that does actually happen, MGM may be in a similar situation when November rolls around.
No Time to Die is Daniel Craig‘s final movie as James Bond and it’s one of the most anticipated movies of the year.
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