March 29, 2024

James Bond Returns and Theaters See Reason for Hope

Because of the pandemic, more moviegoers have been holding off on ticket-buying decisions until the last minute, analysts say, making it difficult for studios to predict how a movie will perform. Going into the weekend, domestic estimates for “No Time to Die” ranged from $36 million to more than $70 million, depending on what research firm was doing the prognosticating. The film’s franchise predecessor, “Spectre,” took in $70.4 million in North America over its first three days in 2015.

“No Time to Die,” which received strong reviews and an A-minus grade from ticket buyers in CinemaScore exit polls, was the first major movie to be affected by the pandemic. It was originally scheduled to roll out in theaters in April 2020. MGM and the London-based producers who control the franchise, Barbara Broccoli and Michael G. Wilson, pushed back the release to November 2020 and then again to this month.

Theaters keep roughly 50 percent of total ticket sales, which means the expensive “No Time to Die” is unlikely to turn a profit for MGM. The film cost an estimated $250 million to make and a further $150 million to market worldwide. But the film sold enough tickets over its first three days in theaters to qualify as a success, in part because of interest from older ticket buyers, who have been avoiding theaters over coronavirus concerns.

About 36 percent of the weekend audience in North America was over the age of 45 and roughly 57 percent was over 35, according to Erik Lomis, president of distribution at United Artists Releasing, an MGM affiliate. Mr. Lomis said that exit polls indicated that 25 percent of ticket buyers had not been to a theater in 18 months.

Article source: https://www.nytimes.com/2021/10/10/business/media/no-time-to-die-box-office.html

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