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No Time To Die Costing MGM $1Million Per Month

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Variety reported that streaming platforms like Apple and Netflix had explored the possibility of an OTT release for the Daniel Craig vehicle, No time to die, but MGM, the studio behind the film, has reportedly sought a deal of around $ 600 million.

“We don’t comment on rumors. The film is not for sale. The film’s release has been postponed to April 2021 in order to preserve the theatrical experience of moviegoers, ”however, a spokesperson for MGM said. Variety.

According to insiders, due to delays caused by the coronavirus pandemic, MGM has lost $ 30 million to $ 50 million.

No time to die costs over $ 250 million and is part of multiple promotional partnerships to help cover the costs – including those with Land Rover, Omega and Heineken watches. It is assumed that if the studio does an OTT release, these companies would also have to agree with the plans and that could prove to be a challenge for the studio.

Now, according to media reports, the studio would lose $ 1 million (roughly Rs 7.5 crore) for every month the film is on the shelf.

The Hollywood Reporter states that MGM is not in a position to repay its debts until the film starts making money.

The No Time To Die Costing MGM $ 1Million Per Month post appeared first on Man & # 039; s World India.

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