The decision to move No Time to Die's release date from April 10 to Nov. 25 out of coronavirus fears will cost MGM millions of dollars.
According to The Hollywood Reporter, the studio will lose between $30 million and $50 million because of the move. The main marketing push had not yet started for the James Bond film, but some material had already been purchased and released, including a $4.5 million Super Bowl promo.
However, the decision to push forward with the original April release date would have been much more costly. According to analysts, with large numbers of theaters in Italy, Japan, South Korea and China closed down due to coronavirus, the film could have lost 30% of its box office revenue. Estimates put that number at as high as $300 million, as the film has the potential to earn close to $1 billion.
No Time to Die's $245 million budget is around the same as 2015's Spectre. Spectre earned $84 million in China and $125 million in the United Kingdom, which just saw an increase in coronavirus cases.
Directed and co-written by Cary Fukunaga, No Time to Die stars Daniel Craig, Ralph Fiennes, Naomie Harris, Rory Kinnear, Léa Seydoux, Ben Whishaw, Jeffrey Wright, Ana de Armas, Dali Benssalah, David Dencik, Lashana Lynch, Billy Magnussen and Rami Malek. The film arrives in theaters Nov. 25.