Throughout its near 60 year history in cinema, James Bond has faced many iconic and intimidating villains, yet No Time to Die perhaps has put up 007 against across the series’ most intimidating foe ever: COVID-19.
The writing was there on the wall already pointing to No Time to Die being delayed again due to the fallout from the pandemic and its effects on the movie industry making it rather unwise for MGM from a business perspective to release their latest Bond film. Now, with official confirmation of further delays for 007, it may only be a matter of time before more blockbusters take the same course.
The news was disclosed on both the official 007 site and Twitter account, with no lengthy explanations to the obvious reasons that forced MGM to again delay their biggest film, only the announcement that No Time to Die is now scheduled for October 8. With movie theaters in the United States continuing to work at very limited capacity and increasingly strict lockdown measures put into place in the UK and most of Western Europe, No Time to Die remains detached from two of its biggest markets.
Though it’s understood MGM considered the idea of selling the film’s right to streaming service like Netflix or Apple TV, offers for No Time to Die were nowhere near the expected profits the studio has in line for 007’s latest installment. This stalemate between studios and streaming services means distributors would rather keep their films in store until movie theaters are back to something resembling normal business conditions.
As has been noted in the past by most industry insiders and analysts, MGM faces little costs in delaying No Time to Die, while rushing the film would compromise 007’s potential box office revenue of up to a billion dollars. Both of the most recent Bond films, Skyfall and Spectre, hovered around that profit mark and MGM will not want to take any risky business decisions after the studio recently went up for sale.
Last fall No Time to Die initiated a bigger shockwave of delays across the movie industry, so the same is to be expected this time around, with only Disney having some kind of leverage to navigate these waters thanks to Disney Plus’ growing appeal for users worldwide.
No Time to Die is set to release on October 9, 2021.
Source: 007.com
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