MGM will take a huge hit after moving the new James Bond movie “No Time to Die” to November.
The highly-anticipated movie was moved from an April release to November 25 because of the coronavirus. The move will cost MGM somewhere between $30 million and $50 million, according to The Hollywood Reporter. (RELATED: New ‘Westworld‘ Season 3 Trailer Gets Released, Ed Harris Returns As The Man In Black)
However, it sounds like MGM might not really have had much of a choice. THR reported that by not moving the release date and going ahead with it amid coronavirus fears, it could have been “an eight-figure loss” for the studio.
Despite the fact MGM is going to take a substantial hit by not releasing “No Time to Die” as originally scheduled, it sounds like things would have been much worse if the film came out April 10.
Movies theaters across China are shut down as fears about the coronavirus spread. A movie the size of a James Bond flick needs access to those markets.
There’s way too much money to be made overseas to not factor the closed theaters into the equation.
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Clearly, MGM looked at the numbers and decided losing $50 million was a hell of a lot better option than potentially losing $100 million.
Now, we all wait until November 25 to see the new James Bond movie. Let’s hope it lives up to the hype after getting hit with this massive delay.