MGM Taking $30 Million-Plus Loss on No Time to Die Release Date Move

MGM’s decision to move No Time to Die from April to November over coronavirus concerns is costing them big money. THR reports that MGM is expected to lose between $30 million to $50 million by moving the release date back due to the marketing campaign and changes which will be needed. Among that was the Super Bowl ad that cost $4.5 million and a host of ad buys, which they are attempting to move to the fall. However, fall ad campaigns tend to be more expensive for a variety of reasons including the new fall TV season and football.

While the costs are significant, it’s nothing compared to what MGM could have faced. Trying to launch the film in April as originally planned could have cost as much as 30% off the final box office gross due to shuttered theaters across the world and the potential for more as the virus spreads. With a $1 billion expected haul worldwide, that’s $300 million that the studio stood to lose.

No Time to Die will now release on November 25th in the US and November 12th in the UK.