MGM recently chose to postpone the release of the new James Bond film, No Time To Die, because of fear of a coronavirus epidemic. The film was originally reprogrammed in China due to the virus, but was later shown internationally, including in Europe and North and South America.
Movie Web says that fear of the coronavirus has since spread fear and uncertainty around the world, affecting financial markets in addition to cinema. Although it is a good decision to make due to the potential loss of hundreds of millions, it will cost approximately $ 30,000,000 upfront.
No Time To Die Delay Might Cost Studios $30 Million Reports Reveal
Reports from the aforementioned branch claim that the postponement of the film cost the studios between $ 30 million and $ 50 million. Before the virus started spreading, the studio had spent a large sum of money marketing and promoting it, until it had to cancel it completely.
The film was scheduled to premiere on March 31 in London, England. Only one example was the 4.5 million dollar advertisement during the Supe weekend
In addition, the delay in the film will affect other aspects of the James Bond universe. For example, Omega, a watch company that has worked with the franchise for years, has started to release its movie-inspired watch. In addition, Swatch planned to release a product inspired by Q’s watch in the film.
The release of Billie Eilish’s theme song from No Time To Die has already been released, which is usually done shortly before the film’s release.
According to Movie Web, Chinese theaters have been closed in recent weeks, with around 70,000 people on temporary hiatus. European nations like Italy and the UK can do the same.