The numbers are in for the highest grossing movie of the Pandemic Era. So what does this mean for the future of theatrical releases? According to reports, the company that produced the pandemic era’s highest-grossing film lost $150 million. When the year began, many people predicted that F9 or a Marvel film would be the highest-grossing film. No Time To Die is the current champion, but the news is bittersweet for MGM. Just last weekend, the global box office for the James Bond blockbuster surpassed $730 million. However, there is a caveat to that enormous return. After multiple media reports claimed that the film will lose money, Variety reached out to an MGM official. (The production of No Time To Die is estimated to have cost $900, implying that it would have to run until 2022 to be back on track.) The studio, on the other hand, is disputing those figures, claiming that the film has already made them money.

“Unnamed and uninformed sources suggesting the film will lose money are categorically unfounded and put more simply, not true,” MGM’s spokesperson argued. “The film has far exceeded our theatrical estimates in this time frame, becoming the highest-grossing Hollywood film in the international marketplace and passing ‘F9’ to become the highest-grossing Hollywood film since the pandemic. With the PVOD release of the film already doing stellar home viewing business, all while continuing to hold well theatrically, ‘No Time To Die’ will earn a profit for MGM, both as an individual film title and as part of MGM’s incredible library.”

Pamela Abdy Makes A Statement

When No Time To Die won the top spot at the box office this year, MGM Film Group Chairman Michael De Luca and MGM Film Group President Pamela Abdy issued a statement.

“We are so thrilled to see audiences returning to theaters across the world and for their ongoing support of the theatrical experience. After a long delay, we are especially gratified to know No Time To Die has entertained so many moviegoers the world over,” they said. “Along with our partners at Eon, Michael G. Wilson and Barbara Broccoli, all of us at MGM are grateful to the teams at Universal Pictures, United Artists Releasing, and in our own MGM territories for their tremendous efforts to cross this great milestone with No Time To Die. This achievement is a testament to Daniel Craig and the entire cast, as well as our director Cary Fukunaga, producers Michael and Barbara, and the crew for making an incredible film. We extend our thanks to our exhibitor and promotional partners for remaining steadfast in their support of the film.”