'No Time To Die' is costing MGM $1 million in interest due to delayed release

MGM has reportedly taken a loan on the upcoming movie No Time To Die that will cost the production house $1 million in interest till the movie is released. The movie was all set to release in the first week of November but producers feared the movie might not gain enough revenue at the box office due to the pandemic. Read ahead to know more about the film. 

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Recent reports by Bloomberg and Screenrant indicate that No Time To Die has proved to be a very expensive movie to be held back. Made at a reported budget of over $250 million, the movie (due to not being released) is costing the production houses so much money that they are looking to sell it to OTT platforms like Netflix. MGM fears that if the movie's release is delayed any longer, it might cost the production houses millions in losses. 

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As per the reports, Hal Vogel, CEO of Vogel Capital Research, mentioned that MGM was suffering huge debts due to the Bond film. The biggest problem of releasing a movie amidst the lockdown was that not many people were ready to go to the theatres again, the same reports added. An example can be of the Christopher Nolan film Tenet which ended up falling at the box-office despite being critically acclaimed. Warner Bros had to suffer huge losses.

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While many production houses have their own streaming platforms, like Disney, MGM will have to sell its film to another OTT platform. The reports by these media outlets added that the film might sell for about $600 million. Now the No Time to Die release date is scheduled for April 2, 2021, but the film might release sooner if acquired by an OTT platform.  

Also Read | Daniel Craig says 'it isn't the right time' to release 'No Time to Die'; Read more

No Time To Die cast 

Fans will see actor Daniel Craig as James Bond for one last time in No Time to Die. Apart from Craig, other actors that will be seen are Rami Malek, Lashana Lynch, Ana de Armas, Dali Benssalah, Billy Magnussen, and David Dencik as new members. Rami Malek will be seen as the new villain in the movie. No Time To Die will continue the plot of the last 4 Craig starrer Bond films.