Why the new Bond film, No Time to Die, might be dead on arrival
By Gathua Miricho
2020 has been a pain in the keister, right?
Businesses have closed down, people have lost livelihoods and some even paying the ultimate price. Yet, a case can be made to say that the year has been more brutal to some, more than others.
The Bond franchise knows this all too well. The passing of the numero uno Bond, Sean Connery after a long struggle with dementia dealt the 007 universe a huge blow.
Moreover, the hopes of a box office success with Daniel Craig’s final outing as the agent with the golden gun are dwindling with each postponement.
No Time to Die is the twenty-fifth instalment in the James Bond film series.
Directed by Cary Joji Fukunaga, the film started shooting sometime in 2016 and sees Daniel Craig face-off with Rami Malek as Bond and Safin respectively.
Earlier this year, the film was expected to be released on April 12 in the UK and April 10 for its American audiences.
No Time to Postpone
According to a story on The Hollywood Reporter, No Time to Die is accruing $ 1 million in interest each month. MGM, the studio that owns the Bond franchise cannot pay the debts it owes until the film starts making money.
The film cost $ 300 million to produce. So far, MGM has reportedly lost close to $ 50 million due to the delays.
Moreover, before the first postponement, the studio had already spent a whooping $ 66 million on promotion.
To compound MGM’s woes, the producers of the film Michael Wilson and Barbara Broccoli who have rights to the franchise have lucrative backend deals, which will limit MGM’s earnings.
MGM has looked at ways to cut its losses, one of them is selling the film to streaming platfroms such as Apple and Netflix.
Open Season for Streaming Companies
Streaming companies are having a time of their life. The pandemic has been so good to them that earlier this year, Netflix had to slow down and reduce its video quality to prevent the internet from breaking.
These companies have been on a shopping spree, buying rights to big box office films that were supposed to be released in 2020/2021
MGM was hoping that Bond would be attractive enough to earn a sum in the region of $ 800 million but both Apple and Netflix could only go as far as $ 400 million.
With no hopes of a vaccine by next year, there is not enough evidence to say that the awaited Bond film will air in April, next year.
The best that we can hope for is a favourable streaming deal that will bring 007 back, big screen or small screen, Bond fans have waited long enough to stop caring.