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Delays in “007 / No Time to Die”, “Ghostbusters: Afterlife”, and “Uncharted”

Daniel Craig starred as James Bond in “No Time to Die”.

Source: MGM

Hollywood is shuffling movie releases again as the coronavirus pandemic rages in the United States.

On Thursday, both MGM and Sony announced that major films from the 2021 slate will be postponed. Among those titles are the latest James Bond movies “No Time to Die” and “Ghostbusters: Afterlife”.

The latest calendar movements are as follows:

  • “007 / No Time to Die” postponed until October 8, 2021
  • “Peter Rabbit 2: Runaway” was pushed on June 11, 2021
  • “Cinderella” will move on July 16, 2021
  • “Ghostbusters Afterlife” will debut on November 11, 2021
  • “Uncharted” has been postponed until February 11, 2022

The United States records at least 194,252 new Covid-19 cases and at least 3,054 virus-related deaths daily, based on a 7-day average calculated by CNBC using data from Johns Hopkins University. These numbers give the studio a pause when it comes to the release of blockbusters.

The studio is worried that as the number of cases of coronavirus continues to grow, movie fans will move away from the theater even if new titles are played on the big screen. Many of these films have large production budgets and rely on strong ticket sales to reach the break-even point.

“Given the uncertainty of the market, changing the date is certainly better than changing the venue from a big screen to a small screen,” said Paul Delgaravedian, senior media analyst at Comscore. Stated.

“007 / No Time to Die” is one example. The estimated budget for MGM movies is $ 250 million, with additional marketing costs. This is typically half the cost of production, and the studio needs to recover at least $ 400 million.

The James Bond movie Specter, released in 2015, earned more than $ 879 million in worldwide box office revenue, and its predecessor, Skyfall in 2012, exceeded $ 1.1 billion. “No Time to Die” was expected to have high ticket sales as actor Daniel Craig was expected to be the last turn as the famous 007.

There are some delays in “007 / No Time to Die”. It was first pushed from the November 2019 release when Danny Boyle, who was supposed to write and direct the film, left the project. It bounced back in a few days before it was released in April 2020. However, the coronavirus pandemic pushed it up in November 2020 and in April 2021. We are currently heading to October.

“Long-game enthusiasts understand that for Bond and many other films, the theater’s prestige, exclusivity, and potential for revenue are still undeniable and worth the wait. “We do,” said Dargala Bedian.

Sony, which announced four movie moves on Thursday, was one of the studios that chose to shift most of its 2020 schedule to 2021. “Peter Rabbit 2: Runaway,” “Cinderella,” and “Ghostbusters: Afterlife” are all later this year, while Tom Holland-led “Uncharted” arrives in 2022.

Disclosure: Comcast owns NBC Universal and CNBC. Universal has released “007 / No Time to Die” internationally, and MGM is in charge of domestic releases.

Delays in “007 / No Time to Die”, “Ghostbusters: Afterlife”, and “Uncharted”

Source link Delays in “007 / No Time to Die”, “Ghostbusters: Afterlife”, and “Uncharted”

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