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- MGM has been in discussions with Netflix and Apple about releasing “No Time To Die” directly on their streaming platforms, sources told Bloomberg.
- MGM wanted around $ 600 million for the next installment of James Bond, but the streaming giants only wanted to pay half that price, Deadline reported.
- MGM postponed the release to April 2021 “to preserve the theatrical experience for viewers,” he told Bloomberg.
- Visit the Business Insider home page for more stories.
“No Time To Die,” the next James Bond film, could have easily bypassed theaters and jumped straight to streaming platforms after discussions between its film studio, Netflix and Apple, according to various reports.
Metro-Goldwyn-Mayer (MGM) was seeking about $ 600 million in deals with Netflix and Apple during discussions in late September, sources familiar with the matter told Variety. The discussions were also reported by Bloomberg.
Sources told Deadline that both Netflix and Apple were only willing to pay half that price for the film, which cost about $ 250 million to produce.
MGM and EON Productions, which produce the franchise, have also considered releasing the film through a paid video-on-demand option, Deadline reported. This would have been similar to Disney’s release of Mulan, which added an additional cost to the usual Disney + subscription rates.
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MGM has pledged to bring the film to theaters after lead producer of the franchise Barbara Broccoli eventually snubbed the idea of streaming, Deadline reported.
The theatrical release could bring in about $ 1.2 billion at the box office, Forbes estimates, beating only 2012’s Skyfall, which grossed $ 1.1 billion.
MGM declined to comment on any speeches to the publications, but told Bloomberg the film “is not for sale.”
“The release of the film has been postponed to April 2021 to preserve the theater experience for viewers,” an MGM spokesperson told the publication.
The film was originally slated for release in April 2020, but was rejected twice during the pandemic as cinemas continue to limit visitor numbers due to social distance restrictions.
“No Time To Die” marks the 25th installment of the James Bond series and Daniel Craig’s latest performance as a spy.
MGM, EON Productions, Netflix, and Apple did not immediately respond to Business Insider’s request for comment.
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