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Asking Price for No Time to Die Streaming Rights Was Way Higher Than First Reported

Posted 2020/11/29 0


Rumors of a streaming release for the upcoming Bond venture No Time to Die refuse to, well, die. While earlier reports claimed that MGM was looking for an eye-watering $600 million for the rights to stream the movie, with both Apple TV+ and Netflix reportedly offering bids, new reports are stating that the studio actually want upwards of $800 million for the latest 007 adventure. Unsurprisingly, there were no takers.

Amid the ongoing global circumstances and theater closures, the studio may eventually relent and look to shop the movie around for a streaming release. Ultimately though the final decision must be approved by James Bond series producers Barbara Broccoli and Michael G. Wilson, whose general thoughts on the matter were summed by an unnamed producer; “It’s MGM’s golden goose, but it’s the Broccolis’ platinum goose.”

No Time to Die has suffered several delays and was originally due for release in November 2019. If that were not already bad enough, director Cary Joji Fukunaga recently admitted that the movie could be delayed even further if things do not improve. “I think there’s always the potential of that.” he said. “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.”

Going from worse to even worse, recent reports have revealed the heavy cost of movie delays, with loans taken out by MGM in order to make No Time to Die costing the studio $1 million a month in interest. MGM financed the movie with a large loan, which is typical of many big budget movies, but the ongoing delays to release have meant that interest is beginning to build up and will not be paid off until the movie hits screens. “MGM is suffering,” said Hal Vogel, CEO of Vogel Capital Research.

“Every major distributor at this point has a pile of unreleased expensive movies. 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 no wonder then that MGM are toying with the idea of a streaming release for the movie. With other tentpole movies such as Wonder Woman 1984 taking that leap, it is perhaps only a matter of time before James Bond does the same.

Directed by Cary Joji Fukunaga from a screenplay by Neal Purvis, Robert Wade, Fukunaga, and Phoebe Waller-Bridge, No Time to Die picks up five years after the capture of Ernst Stavro Blofeld, with James Bond having now left active service. He is approached by Felix Leiter, his friend, and a CIA officer, who enlists his help in the search for Valdo Obruchev, a missing scientist. When it becomes apparent that Obruchev was abducted, James Bond must confront a danger the likes of which the world has never seen before.

The movie will feature Daniel Craig’s final appearance as the iconic secret agent. Léa Seydoux, Ben Whishaw, Naomie Harris, Jeffrey Wright, Christoph Waltz, and Ralph Fiennes reprise their roles from previous films, with Lashana Lynch, Ana de Armas, and Rami Malek joining the main cast. No Time to Die is currently scheduled to open in theaters on April 2nd, 2021. This comes to us courtesy of The Hollywood Reporter. This comes to us from LA Times.

Jon Fuge at Movieweb



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