NO TIME TO DIE: MGM Has Talked To Apple And Netflix About The JAMES BOND Movie Premiering On Streaming
No Time to Die has been hit by multiple delays at this stage, and it seems MGM is finally considering having the movie debut on streaming services instead of attempting to make an impact in theaters...
Bloomberg reports that MGM has held discussions with both Apple and Netflix about bringing No Time to Die direct to a streaming service in the not too distant future. The studio, however, maintains that it's committed to a theatrical release (it's a little strange that they'd meet with the streaming giant if that's the case...).
The site explains that the James Bond movie could potentially fetch hundreds of millions of dollars in a potential streaming sale, though MGM maintains that the blockbuster "is not for sale." A representative issued a statement saying, "The film’s release has been postponed until April 2021 in order to preserve the theatrical experience for moviegoers."
Amazon doesn't appear to be in the running to acquire No Time to Die, and this would be an undeniably sensible move for MGM at this stage. Tenet has essentially bombed at the box office, and the next James Bond movie's marketing spend has definitely been depleted (a final trailer touting that November release date debuted shortly before the latest delay).
No Time to Die cost roughly $250 million to produce, so if MGM can sell it for more than that, they stand the chance of at least breaking even. If they gamble with a theatrical debut, it could result in a loss, because moviegoers clearly aren't ready to return to theaters until a COVID-19 vaccine is available.
We'll have to wait and see how this situation develops over the coming weeks (or months).