MGM is exploring the sale of its latest James Bond film No Time Left to Die to streaming services like Netflix, Apple, and others. The film’s original release date of spring 2020 was rescheduled for November due to coronavirus shutdowns, and then delayed again to its current release date of April 2021. But with movie theater attendance dwindling, MGM is reportedly looking to skip theaters altogether.
But the movie studio might be crazy if they think they can get their current asking price, a whopping $600 million. Even the deepest-pocketed streamers are unlikely to shell out that kind of money for a film. To compare, Apple+ paid $70 million for Tom Hanks’ Greyhound this summer. MGM has reportedly lost somewhere between $30 and $50 million from all the delays for No Time to Die, and with a film budget of 250 million, its clear MGM is trying to make a successful profit off the would-be blockbuster.
MGM is still in denial that it’s tried to sell the film, with a spokesperson telling Variety, “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.”
However, sources from competing studios in the industry say the film has definitely been shopped around. For now, the release date is set for April 2, 2021.