No Time to Die, the 25th Bond instalment, will not be released on Amazon Prime despite the streaming site’s bid to buy the rights to the franchise.
On 25 May, it was revealed that Amazon is expected to take over MGM Studios and the hundreds of titles the production company has created over its nearly 100 years in the film industry.
‘’Worldwide theatrical release’
If Amazon does purchase the rights to MGM studios, it takes over a library of 4,000 films and 17,000 hours of TV shows, including the multi-billion dollar Bond franchise.
However, as rumours began to spread that No Time to Die would debut on the small screen, producers of the movie quashed the theory.
Producers Barbara Broccoli and Michael G Wilson said it will still get a “worldwide theatrical release” from September, despite the acquisition of MGM by Amazon.
“We are committed to continuing to make James Bond films for the worldwide theatrical audience,” Broccoli and Wilson told Variety.
‘Reimagine and develop together’
Mike Hopkins, head of Prime Video and Amazon Studios, called MGMs back catalogue a “treasure trove” of content.
Amazon’s take over is thought to be an attempt to compete with rival streaming sites Disney+ and Netflix.
Hopkins said Amazon would work with MGM to “reimagine and develop together,” adding: “It’s very exciting and provides so many opportunities for high-quality storytelling.”
However, the latest Bond movie is already set for release in UK cinemas from 30 September, following five delayed attempts to showcase the blockbuster and issues with production due to Covid.
MGM allegedly attempted to sell No Time To Die for £600 million to both Amazon and Netflix, but the sites missed out due to offering only £283 million.
Forbes reckons Craig’s final performance as Bond - his tenure spanned five movies and 15 years, the longest of any 007 agent - could see the movie rack in over $800,000 at the box office, similar to Spectre (2015) which earned $880 million.
If Covid is still causing calamity at the cinemas, it could perform slightly worse, with an expected performance similar to Casino Royale (2006) which brought in around $599 million.
MGM’s most renowned titles include Silence of the Lambs, The Handmaid’s Tale and Real Housewives, among others.
While the company was hugely successful in its heyday, it has struggled to stay afloat in the past decade, falling into bankruptcy for a brief period in 2010.
The financial crisis of MGM led to a larger than predicted gap between successive Bond movies, Quantum of Solace was released in November 2008 and Skyfall in November 2012.