Daniel Craig’s last venture as James Bond has hit the entertainment world with a storm considering the movie has been able to attract a mass audience. With so many delays related to the pandemic, the movie had a lot riding on it as it will be a while before we get another James Bond feature with a whole new actor taking on the titular role. The movie dared to challenge the narrative of the past James Bond movies by taking a completely original take for the narrative of Daniel Craig’s James Bond. While No Time To Die seems to have done quite well for itself by earning quite a name at the box office, here’s why Bond 25 could still suffer a loss of around $100 million.
Highest Grossing Film of 2021
No Time To Die managed to topple F9 and take the title for the highest-grossing film of 2021 as well as the title for the highest-grossing film of the pandemic era. There were a lot of things that stood in the way of the movie with the movie having a tone that is a lot different from James Bond movies in general. It was surprising to see that it actually took a lot of inspiration from the previous venture with a similar tone, On Her Majesty’s Secret Service. But the movie still managed to break past the $700 million mark by earning a total of $734 million worldwide which is quite ahead of F9 which had made $721 million.
The movie received quite a lot of praise for the performance from the cast and a the same time it felt like a fond farewell to the character of Bond. One of the major highlights of the movie was Ana De Armas’ character Paloma, who got the movie some of its best action sequences along with a character that fans would love to see more of. As much as the 25th Bond film might have seemed to have managed to take from the audience with its box office numbers, the movie still might suffer a loss of $100 million.
Why Bond 25 Could Still Suffer a Loss of $100 million?
According to a report from Variety, despite the massive success in the pandemic era, the movie still might end up losing a sum of around $100 million. The report states:
The movie cost more than $250 million to produce, at least $100 million to promote and tens of millions more to postpone over 16 months. Insiders say ‘No Time to Die’ needs to make closer to $900 million to break even, a feat that would have been realistic had a global health crisis not entirely upended the theater industry. As a result, the film now stands to lose $100 million in its theatrical run, according to sources close to production. Other industry sources suggest the losses wouldn’t quite reach the nine-figure mark though they would still be substantial.
The Massive Marketing Expenses
This is not surprising considering the movie has faced a sufficient amount of delay that has gone above a year now with the original release for the movie scheduled to be in April 2020. No Time To Die was amongst the first of such movies that delayed their release based on the condition worldwide. The marketing for the movie has run up a tab of about $150 million and this puts it at par with the Marvel Cinematic Universe movies. This was rather obvious as people could see that the 007 was getting tagged along with some of the most massive brands with ads all over the media. The studio was not going to stop at anything to try and keep the global audience hyped up about the release.
Some of the early marketing campaign moves secured the movie because it was definitely going to face massive competition from some major projects from other studios. But experts predicted a loss of $30-50 million which was all because of the marketing expenses and this was only for the initial 7-month delay for the November release. The entire process had to be repeated again for the next delay that put the movie up for its final release date in October 2021.
Pandemic Affecting Ticket Buying
Theaters tend to keep about 50% of the total ticket sales of the movies, and this only meant a further loss for No Time To Die considering the movie might not be able to profit anyway. The movie had a budget of $250 million and it spent around $150 million on marketing. Meanwhile, the movie opened with an earning of about $49 million after 10 days of its release in China. Furthermore, the studios only get about 20% of the total Chinese earnings. So yes, No Time To Die might not make all of its money back. But at least Daniel Craig is sitting happy with the $30 million salary he got!
MGM Denies The Reports
An MGM spokesperson reported to Variety:
Unnamed and uninformed sources suggesting the film will lose money are categorically unfounded and put more simply, not true. The film has far exceeded our theatrical estimates in this timeframe, becoming the highest grossing Hollywood film in the international marketplace and passing ‘F9’ to become the highest grossing Hollywood film since the pandemic. With the PVOD release of the film already doing stellar home viewing business, all while continuing to hold well theatrically, ‘No Time To Die’ will earn a profit for MGM, both as an individual film title and as part of MGM’s incredible library.
The movie continues to earnt even after the studio decided to give it a 31-day PVOD release and this means the movie still might earn quite a hefty sum. It seems the movie has to earn more than its previous movie in the franchise, Spectre to prevent this $100 million loss. Spectre was able to make $880 million worldwide and this is a massive number to make considering the markets have not yet recovered from the pandemic. Fans don’t seem to be bothered with this loss considering they got to see the perfect end to the Daniel Craig narrative of James Bond. This only excites us for the future James Bond feature as MGM continues to refute the reports of the possible loss.