Entertainment No Time To Die: James Bond studio denies reports of streaming release

18:10  26 october  2020
18:10  26 october  2020 Source:   cityam.com

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The Hollywood studio behind the James Bond film franchise has hit back at reports it is mulling a streaming launch for No Time To Die due to multiple delays to its release date.

Metro-Goldwyn-Mayer (MGM) is said to have held discussions with Netflix, Amazon and Apple about a potential on-demand release for the 25th instalment of the spy series.

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However, MGM today hit back at the reports, stating that the film was “not for sale”.

“The film’s release has been postponed until April 2021 in order to preserve the theatrical experience for moviegoers,” a spokesperson said.

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No Time To Die was originally scheduled to hit screens in April, but was delayed until November due to the outbreak of coronavirus. The studio then pushed back the release a second time until April next year as the pandemic continued to hit cinema attendance.

According to multiple reports, MGM offered the film to the major streaming giants for $600m (£460m) for a one-year licensing deal.

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But the talks, which took place after the film was delayed for the second time, reportedly fell through after none of the streamers was willing to stump up the cash.

MGM came under fierce criticism from cinema chains for its decision to postpone the release of No Time To Die for a second time despite the reopening of cinemas.

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Shortly after the delay was confirmed, Cineworld, the UK’s largest cinema chain, announced it was shutting all sites, putting 5,500 jobs at risk.

Rival chains Odeon and Vue have also announced reduced opening hours for many of their venues.

The latest Bond blockbuster, which had a budget of $250m, would have been a major coup for streaming services as they look to lure in new subscribers in an increasingly competitive market.

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But it would not have been the first major film to be released directly through streaming services, as the Covid-19 pandemic has accelerated a shift away from traditional theatrical releases.

Disney last month released its live-action remake of Mulan through its Disney Plus streaming service after it was forced to scrap its original release.

The post No Time To Die: James Bond studio hits back at reports of streaming release appeared first on CityAM.

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