The latest James Bond film, No Time to Die, has been hit hard by the myriad delays and theater closures caused by covid-19. It was hit so hard that MGM reportedly considered finding alternate means of distribution altogether.
As reported by Variety,
executives at MGM considered the possibility of selling No Time to Die to a streaming service for distribution, with
platforms like Apple and Netflix considering the deal. According to the report,
sourced from “multiple insiders at rival studios and companies,” the
sale was explored in overt terms, with MGM seeking a payout of around $600
million for the distribution rights. As Variety points out, however, it would
have been a tricky deal to get right, even outside of the price tag. Multiple
involved parties go into making a big-budget film like this possible in the
first place, including corporate sponsors (Land Rover and Heineken being two of
Bond’s), production partners, and already signed theatrical distributors like
Universal Pictures, who had foreign distribution rights.
With all that
complexity, it’s no surprise, then, that a deal didn’t go through. But what
this story shows is how deeply entrenched, through networks of deals and
complex money movements, the standard theatrical system is. No Time to Die was delayed early, originally
scheduled for April of this year, and if any film had the time to find another
means of distribution, it’s this one. But it seems like, at this scale of
production, it’s a difficult prospect for the modern studio system to swallow.
https://gizmodo.com/the-new-james-bond-film-has-been-moved-to-2021-1845257604
“We do not
comment on rumors. The film is not for sale. The film’s release has been
postponed until April 2021 in order to preserve the theatrical experience for
moviegoers,” an MGM spokesperson told Variety.
No Time to Die is still slated for theaters,
with the current expectation that it will hit in April of next year.
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