Apple, Netflix explored “No Time to Die” deal

(FASTNEWS | COLOMBO) – Apple, Netflix and several others reportedly explored the possibility of acquiring the upcoming James Bond movie “No Time to Die” to debut exclusively on their streaming service.

Variety reports that according to multiple insiders at rival studios, a possible Bond sale was explored overtly with MGM “at least open to the possibility”. The deal was also said to be worth a large fortune of roughly $600 million.

That price tag was deemed too rich for even those aforementioned free-spending streaming services, but is understandable as MGM shelled out over $250 million to produce the film and has lined up several promotional partnerships to help defray those costs – partners that may not be happy with a streaming exclusive release. Then there’s the $30-50 million in marketing lost due to the delays.

An MGM spokesperson has dismissed the talk: “We do not comment on rumors. The film is not for sale. The film’s release has been postponed until April 2021 in order to preserve the theatrical experience for moviegoers.” It’s also unclear if producers Barbara Broccoli and Michael G. Wilson, who exert control of the series through their company Eon, would sign off on the deal.

The talk comes as numerous planned theatrical releases from “Greyhound” to more recently “Coming 2 America” have all been sold to streaming services as the exhibition sector continues to struggle during the pandemic.