James Bond studio MGM allegedly wanted $600M to skip theatrical release for “No Time to Die”

With the theatrical movie launches being pushed back during the pandemic. The forthcoming James Bond film “No Time To Die” was considering skipping the traditional release and going directly to a streaming platform.

“The studio was reported to be negotiating for a contract of about $600 million” according to Variety. They said it was “a price tag that was deemed too rich for two of the free-spending streaming services.” Apple, Netflix and other streaming services explored the possibility of acquiring “No Time to Die,” the upcoming James Bond movie.

Due to the delays, MGM, the studio behind the movie, reportedly lost from $30 million to $50 million, insiders said. Bloomberg first mentioned the talks, which this week became the topic du jour in Hollywood. Other studios, such as Paramount and Sony, have raked in tens of millions through selling movies like “Greyhound,” “Coming 2 America” and “Without Regret” to streaming platforms, while the exhibition sector struggles to suffer throughout the pandemic.

“We do not comment on rumours,” said a spokesperson for MGM. “The movie isn’t for rent. To preserve the theatrical experience for moviegoers, the release of the film has been delayed until April 2021.”

Initially, “No Time To Die” was scheduled to be released in April 2020, but was then moved back to Nov. 2020. It is currently scheduled for April 2, 2021, although that could change at any time.