No Time To Die: Here’s The Approximate Loss MGM Will Suffer Due To Release Delay

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No Time To Die: Here’s The Approximate Loss MGM Will Suffer Due To Release Delay
No Time To Die: Here’s The Approximate Loss MGM Will Suffer Due To Release Delay

Some of the most shocking news came this week when MGM announced that it had decided to delay the release of the new film James Bond Never Dead from April to November.

The premiere of the new James Bond film No Time to Die was officially delayed from its premiere scheduled for April to November, all because of the worldwide spread of the coronavirus

The premiere of the new James Bond film No Time to Die was officially delayed from its premiere scheduled for April to November, all because of the worldwide spread of the coronavirus.

No Time To Die: Here’s The Approximate Loss MGM Will Suffer Due To Release Delay
No Time To Die: Here’s The Approximate Loss MGM Will Suffer Due To Release Delay

 

While postponing the premiere will be expensive for the producer, it does not compare with the losses they would have if it is released in cinemas as planned.

As reported by Slashfilm, the contagion of COVID-19 would strongly impact the global box office, as countries such as China, Italy, France, Switzerland, Japan, and South Korea have closed down and restricted the use of spaces where large quantities such as cinemas meet.

At the premiere of the previous installment of Bond, Specter, these countries accounted for 38% of the profits, so having them for the premiere of No Time To Die could result in greater losses than not releasing the film on time.

A problem of postponing the premiere date of the film is the cost of advertising, since when scheduled for November, advertising costs would rise because it would be spliced with important events for television and football.

That is why MGM decided to delay the premiere since it is more feasible to invest in new advertisements and agreements for the new premiere than to risk losing approximately 30% of what was estimated to be earned, a percentage that is equivalent to figures ranging from 300 million dollars and one billion dollars.

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The result of these agreements is that the film will now be released on November 12, 2020, in the United Kingdom and on November 25 in the rest of the world.

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