Highest Grossing Movie of the Pandemic Era Reportedly Lost $150 Million for the Studio

The highest-grossing movie of the pandemic era reportedly lost $150 million for the studio that produced it. When this year began, a lot of people speculated that F9 or a Marvel movie would be the biggest earner. Well, No Time To Die wears the crown, but the news has a bittersweet tinge for MGM. Just this weekend, the James Bond film passed $730 million in global box office sales. But, that massive return comes with a bit of an asterisk. Variety actually spoke to an MGM spokesperson after various media reports indicated that the movie would lose money. (No Time To Die is estimated to have cost $900 to make, which means it would have to continue into 2022 to get back to the line.) However, the studio is hitting back at those estimates and arguing that the movie 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 timeframe, 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."

MGM's film group chairman Michael De Luca and MGM Film Group President Pamela Abdy issued a statement when No Time To Die claimed the top spot at the cinema this year. 

"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."

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