MGM studios, owners of the James Bond film saga, is one of the few distributors that is reluctant to be bought or to license their films to a streaming catalog. Rumors spread that just that happened back in 2017, but for now they remain fully independent. But that does not mean that in the midst of a global pandemic they try to do business to sell movie premieres to streaming catalogs.
‘No Time To Die’, the latest British secret agent No Time To Die film, has been delayed several times due to COVID-19. At the same time, Netflix and Apple have given signs of wanting to buy the film for their streaming services. New data now affirms that Apple has come to consider the purchase for 400 million dollars.
MGM offered the film for $ 600 million, but Apple and Netflix rejected it as too expensive. In fact, Apple would have been the only one interested in putting a counter offer on the table with those 400 million, which MGM considered too low a number. The sale would have given Apple the rights to broadcast for a year, which contrasts sharply with the $ 70 million for 10 years of ‘Greyhound’ issuance.
The outcome can be any. MGM has every right to set whatever prices it wants, new trailer but it is also paying a million dollars a month in interest on all the money it borrowed to make the movie. The longer you put up with a theatrical release delay, the more money you’ll lose. Let the negotiations continue!