No Time to Die: The studio behind James Bond film to take USD 30 million plus hit after delay in release

MGM, the studio behind the upcoming James Bond film, No Time To Die, will take USD 30 million-plus hit after postponing the release date.
James Bond,Hollywood,No Time To DieNo Time to Die: The studio behind James Bond film to take USD 30 million plus hit after delay in release
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Earlier this week, it was announced that the release of the highly anticipated James Bond film, No Time to Die, has been postponed following the Coronavirus outbreak. A tweet posted on the official James Bond Twitter account confirmed that the upcoming film, which was initially scheduled to release on April 10, will now hit the movie theatres in November. According to the latest report by The Hollywood Reporter, MGM, the studio behind the highly awaited spy thriller, will take a USD 30 million to USD 50 million hit by moving the film's release back by seven months.

“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,” the tweet read. With the coronavirus spreading rapidly across the globe, many other films have also taken the hit, including the hold on Mulan's China release date, and the delay in Mission Impossible: 7's shooting schedule. Reportedly, the outbreak could result in a USD 5 billion loss for global box offices.

Check out the tweet here: 

Although the makers have decided to delay the James Bond film, other blockbusters, scheduled to release later this year, including Black Widow and Fast & Furious 9, will release according to their schedule. Globally more than 95,000 people have been diagnosed with COVID-19. There have been 3,015 recorded deaths in China and 267 deaths across the globe, mostly in Italy and Iran.

Meanwhile, the death toll in the USA from the disease has risen to 12. 11 deaths have been recorded in Washington state and one in California. Around 129 cases of Coronavirus were confirmed by the Centers for Disease Control and Prevention as of March 5 and according to various reports, the figure has now increased to 225 cases.  

ALSO READ: Sorry James Bond fans, No Time To Die release date delayed by seven months owing to Coronavirus outbreak

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