No Time To Die May Lose $100 Million Despite Box Office Success
Despite its critical acclaim and seeming commercial success, the James Bond film No Time To Die could lose the studio as much as $100 million.
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James Bond’s 25th outing, No Time to Die, could lose around $100 million despite its commercial success. No Time To Die released earlier in the year to positive reviews and managed to draw large crowds despite the uncertain cinema climate caused by the pandemic. The film was Daniel Craig’s last outing as 007, and significantly shook up the Bond universe with its daring plot.
No Time To Die has become the most commercially successful film of the pandemic era, recently surpassing the box office of F9 by crossing the $730 million mark. The film was praised for the performance of its cast, with Craig receiving particular acclaim. As well as giving Craig’s Bond a strong conclusion, the film also introduced new characters who have quickly become popular, such as Ana de Armas’ Paloma.
Now, according to Variety, despite the film’s apparent success, No Time To Die could be set to lose $100 million. Citing “sources close to production,” the report suggests that Craig’s last film as James Bond would have to gross a whopping $900 million to break even against its total budget. The reports of significant financial losses are disputed by the film’s studio, MGM, which claimed instead in a statement that “the film has far exceeded our theatrical estimates.”
No Time To Die’s production budget reportedly came close to an eye-watering $300 million, with an additional $100 million put towards marketing. This latter figure doesn’t account for the year-and-a-half long release delay, however, during which the promotional team had to keep drumming up interest. Given that not all of what a movie grosses is directly pocketed by the studio, a film needs to take in far more than it was made for before it starts to turn a profit, and if the $900 million break-even estimate is correct, that would be far out of reach for a movie that has almost maxed out its time in theaters.
While the question of whether No Time To Die turns a profit isn’t likely to be the first concern for fans, the financial viability of blockbusters will play a significant role in the series’ future. Audiences have spent significant time wondering who the next James Bond will be, but if the studio gets spooked by their pandemic-related losses, it’s entirely possible that the next 007 will never see the scale of films that were a staple of the Craig era. However, MGM’s confidence in refuting the reports are a positive sign that Bond fans will have future projects to look forward to.
Source: Variety
James is a freelance writer from the UK. When he’s not watching Star Trek or playing Skyrim, he’s probably surfing or walking his dog. After graduating from the University of York with a degree in bioarchaeology, James covered international science news and worked as an editor before joining Screen Rant’s entertainment team.
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