James Bond Flick NO TIME TO DIE Bumped to November Over Coronavirus Concerns
By Allyson Vannatta, Staff Writer
The latest installment of the James Bond series, NO TIME TO DIE, now has a late fall release date and will cost MGM upwards of $30 million for the push back.
After the worldwide spread of the coronavirus, the April 10 release date for NO TIME TO DIE could’ve resulted in a minimum of 30 percent off the final box office numbers, according to the Hollywood Reporter.
Instead of risking a $300 million loss on a movie that cost $245 million to produce, MGM decided to mitigate its losses and move the release date to November 25 in North America and November 12 in the U.K.
With the brunt of the marketing about to roll out, the studio still has time to hopefully cancel and re-schedule the possible $1 billion worldwide ads.
As the coronavirus continues to spread and close theaters in other countries, producers of the movie saw the release date pushback coming.
Producer Barbara Broccoli told the Hollywood Reporter, “They obviously are doing the right thing by putting the public safety, world safety, first.”
While producer Michael Wilson added, “How will coronavirus affect the world markets and affect trade in general? We’re just one of the people that have to work in that environment.”
Close to 70,000 theaters are closed in China while the recent spread of the virus to Italy is now causing the same issue. Some are concerned the outbreak in Italy could spread through Europe.
The iconic Bond originated in the U.K., which is where a good portion of expected revenue was calculated, which probably cemented the decision to move the release date.
Since NO TIME TO DIE is Daniel Craig’s last time portraying Bond, several appearances and products were being sold in the movie’s honor. Craig is hosting SATURDAY NIGHT LIVE to promote the movie this weekend, which can’t be changed due to short notice.
Two limited-edition watches were created and will begin to roll-out this spring as expected. A navy ribbed army sweater that’s worn by Craig in NO TIME TO DIE will also get a fall release date that corresponds with when the movie will now hit theaters.
The November release date also comes with added expenses and competition. Ad campaigns during this time of year are more expensive and also now have to compete with Disney’s Marvel Studio’s ETERNALS and Warner Bros.’ GODZILLA VS. KONG.
Other movies that could get a new release date include Marvel’s BLACK WIDOW (May 1) and Universal’s F9 (May 22).
According to Deadline, distributors will wait to see if the March releases of ONWARD, A QUIET PLACE II and MULAN have box office fallout due to the corona virus before deciding to push release dates.Do you enjoy articles like this? Click here to become a monthly partner and receive 15 movies for free!