‘No Time to Die’ postponed to November 2020
The 25th James Bond movie was set to release on Easter weekend.
In an unexpected announcement, MGM has decided to postpone ‘No Time to Die‘ from April to November. Citing the CoronaVirus outbreak, the movie had already canceled its Beijing premiere a week ago. The James Bond film is first of its kind to take the virus outbreak so seriously.
MGM, Universal and Bond producers, Michael G. Wilson and Barbara Broccoli, announced today that after careful consideration and thorough evaluation of the global theatrical marketplace, the release of NO TIME TO DIE will be postponed until November 2020. pic.twitter.com/a9h1RP5OKd
— James Bond (@007) March 4, 2020
The decision to postpone ‘No Time to Die’
Financial estimates show that if the movie was released this April, it could have lost up to $300 million. Given that this loss is more than the movie’s $250 million budget, the studio has taken the right decision. Fans had even petitioned to postpone ‘No Time to Die’ to mid-summer. Given all this, the studio made the decision to postpone the James Bond film to November 25, the day before Thanksgiving. The UK release date is 12 November. The James Bond franchise is a global one with fans of all ages and countries. So, it is understandable that the studio has tried the last movie of the reboot.
Box office suffers from coronavirus outbreak
The studio as taken the decision to postpone No Time to Die by judging box office sales. China comes in second in bringing movie revenue, and more than 70,000 theatres are closed there due to the coronavirus outbreak. Ticket sales this Chinese New Year fell a whopping 99.6% compared to the same period in 2019. China could lose about $3 billion in ticket sales this year. Moreover, other countries are also reporting more cases. Revenue has fallen by 60% in South Korea and nearly half of all Italy’s theatres remained closed.
Analysts have said that the Coronavirus outbreak could wipe $5 billion off the box office. So we shouldn’t expect Avengers: Endgame $2.8 billion record to be broken any time sooner. However, other tentpoles such as Disney’s Black Widow and Mulan, or Fast and Furious 9 are still on track to be released despite shuttered theatres.