A plethora of films was hit with delays due to the COVID-19 pandemic but Daniel Craig’s last run as James Bond, No Time To Die, was the first major release in 2020 to jump off its launch date as the world began to lockdown. The film has since been delayed several times until landing on its current date of September 30, 2021, in the U.K. and October 8, 2021, domestically, but all of these delays cost money and it has made No Time To Die’s road to profitability a daunting one as its release date draws closer.
According to Companies House in the U.K., via The Express, No Time To Die needs to gross $900 million globally just to break even. Due to this, the film now has the distinction of being the most expensive James Bond movie ever made. As Companies House breaks it down, No Time To Die once came in budgeted at 199.5 million pounds but due to interest charges that increased to 214 million pounds. Now, a year later, that figure has increased to 226 million pounds or $314 million for those of us keeping track at home. Once marketing costs are factored in, the amount jumps to $464 million at the lower end.
The $900 million global goal comes into play due to the split between the cinematic exhibitor and the film’s distributors, with MGM expecting to take around 50 percent on every dollar spent on tickets worldwide. This would mean that the movie would need to make at least $928 million worldwide to put some smiles on some people’s faces and we don’t even get to cheers until it hits the $1 billion threshold.
During a normal box office climate, a James Bond film approaching $1 billion globally could easily be expected. The last two outings, Skyfall and Spectre, made $1 billion and $880 million worldwide, respectively. Unfortunately, this is not a normal box office climate and the international, as well as domestic moviegoing, is still trying to recover from the wreckage of the pandemic. Another huge global franchise, The Fast Saga, has seen its ninth installment grossing $642 million worldwide since opening in June and, while that is a solid figure during these pandemic times, it failed to top $1 billion globally like the previous two installments. No one really expected the film to and Fast 9 is being considered a box office winner considering all the obstacles against it but no movie has come close to grossing as high as $900 million worldwide lately and the odds don’t seem in the favor of James Bond being the guy to do so.
The delays that have plagued No Time To Die have only added to its costs. The film was initially set for release in November of 2019 but a director change took that release date off the books. From there the film was hit with injuries and the global pandemic this has reportedly cost the studio $1 million a month in interest until the movie is released. The film can’t afford another delay and the one thing working in its favor is that maybe the Delta Variant surge will subside once more vaccinations go out as its release date gets closer. It’s hard to predict where we’ll be by late September and early October. As of now, No Time To Die hits screens on September 30, 2021, in the U.K. and October 8, 2021, in the United States.
Do YOU think the No Time To Die box office can gross $900 million globally to break even?