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MGM Offered to Stream James Bond Film “No Time to Die” at $600 Million Price
Welcome to "The Outwrite Podcast". This article is published on www.theoutwrite.com by Varun Singh Rajput. James Bond Film “No Time to Die” wouldn’t be on any major streaming services like Apple TV+, Netflix etc. Despite the fact, that movie was up for sale with a price tag of $600 million. The release date of the film has been delayed twice already due to the pandemic. MGM studio which has the rights for James Bond film already faced a loss of $30 -$50 million in this year because of delay.
James Bond is a huge brand, and the studio behind – MGM doesn’t want to compromise with its rights of course. As the report suggests, that the studio has tried to explore the possibility to sell the rights to a major streaming service instead of delaying the released date multiple times.
According to Variety, “It’s unclear if producers Barbara Broccoli and Michael G. Wilson, who exert control of the series through their company Eon, would sign off on the deal. Universal Pictures, which has foreign distribution rights to “No Time to Die,” would have to be made whole in any possible sale and reimbursed for any expenses the studio incurred. That the parties involved would explore a streaming sale is notable, given that the film was the first tentpole to move release dates before coronavirus was upgraded to a global pandemic — making it an early indicator that even the iconic spy and ladies man would not save us from the viral event.”
Apple is the most valuable company on this planet, and possibly they could afford the price too. But investing 10% of their yearly budget ($6 Billion) on one film, wouldn’t be a good business strategy. Likely, Netflix invests close to $19 billion yearly to acquire n number of licenses for movies, series, documentaries etc.
“We do not comment on rumours. 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,” an MGM spokesperson told Variety.
Most probably Major streaming services don’t align with the expectation of MGM in terms of James Bond valuation as a brand. We need to also consider the fact that the film costs around $250 million to the studio. Hence, asking for $600 million for the file license to avoid the loses and cover a decent profit.
Apple TV+ is the newest player in the streaming services, and without any doubt has the most reach in terms of money. The company early this year acquired Tom Hanks movie Greyhound with a price tag of $70 million from Sony.
Thanks for your time, please share your valuable feedback & comments - our email address is: [email protected].
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By Varun Singh Rajput
5
66 ratings
Welcome to "The Outwrite Podcast". This article is published on www.theoutwrite.com by Varun Singh Rajput. James Bond Film “No Time to Die” wouldn’t be on any major streaming services like Apple TV+, Netflix etc. Despite the fact, that movie was up for sale with a price tag of $600 million. The release date of the film has been delayed twice already due to the pandemic. MGM studio which has the rights for James Bond film already faced a loss of $30 -$50 million in this year because of delay.
James Bond is a huge brand, and the studio behind – MGM doesn’t want to compromise with its rights of course. As the report suggests, that the studio has tried to explore the possibility to sell the rights to a major streaming service instead of delaying the released date multiple times.
According to Variety, “It’s unclear if producers Barbara Broccoli and Michael G. Wilson, who exert control of the series through their company Eon, would sign off on the deal. Universal Pictures, which has foreign distribution rights to “No Time to Die,” would have to be made whole in any possible sale and reimbursed for any expenses the studio incurred. That the parties involved would explore a streaming sale is notable, given that the film was the first tentpole to move release dates before coronavirus was upgraded to a global pandemic — making it an early indicator that even the iconic spy and ladies man would not save us from the viral event.”
Apple is the most valuable company on this planet, and possibly they could afford the price too. But investing 10% of their yearly budget ($6 Billion) on one film, wouldn’t be a good business strategy. Likely, Netflix invests close to $19 billion yearly to acquire n number of licenses for movies, series, documentaries etc.
“We do not comment on rumours. 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,” an MGM spokesperson told Variety.
Most probably Major streaming services don’t align with the expectation of MGM in terms of James Bond valuation as a brand. We need to also consider the fact that the film costs around $250 million to the studio. Hence, asking for $600 million for the file license to avoid the loses and cover a decent profit.
Apple TV+ is the newest player in the streaming services, and without any doubt has the most reach in terms of money. The company early this year acquired Tom Hanks movie Greyhound with a price tag of $70 million from Sony.
Thanks for your time, please share your valuable feedback & comments - our email address is: [email protected].