No Time To Die Photograph:( Twitter )
Despite the hype around the 25th film of James Bond- 'No Time To Die' got a lacklustre response at the US box office as it debuted at $56 million.
Despite the hype around the 25th film of James Bond- 'No Time To Die' got a lacklustre response at the US box office as it debuted at $56 million. Trade pundits state that the film fell somewhat short of expectations and signalled that even one of the most storied brands in film history is still being forced to contend with a moviegoing landscape that has been dramatically altered by the pandemic.
'No Time To Die' was expected to make around $60 million to $70 million in its first three days of release. The film's box office earnings cannot be termed as a disaster as it made only slightly less than what pundits had predicted.
Moreover, the film received mostly positive reviews by US critics as they stated that the film presented Daniel Craig's final outing as the stylish secret agent.
In light of the ongoing pandemic, assessing initial box office results for 'No Time to Die' isn`t as clear cut.
For some movies, especially during a public health crisis, an opening weekend of $56 million would be cause for great jubilation. But 'No Time to Die' is no ordinary film. 'No Time To Die' review: Daniel Craig bows out with a bang
It carries a massive $250 million production budget, to say nothing of the more than $100 million marketing spend.
Add in the tens of millions it cost to delay 'No Time to Die,' which was supposed to premiere in April of 2020 before the pandemic altered those plans, and box office experts estimate that, conservatively, 'No Time to Die' needs to gross at least $800 million at the global box office to make money in its theatrical window.
For Bond, the franchise has numerous marketing partners and ancillary tie-ins, with Rolex, Aston Martin and more, that could help cushion potential losses.
Outside of the US 'No Time to Die' has done remarkably well and has already garnered an impressive $145 million. Directed by Cary Joji Fukunaga, the 007 adventure has opened in most major markets except for China (set for Oct. 29), which is a popular territory for all things Bond. Globally, the film has collected $313 million.
In the US, the slightly muted results for 'No Time to Die' are attributable to several factors, including hesitation among older audiences to return to the movies and its lengthy two-hour-and-45-minute runtime, which limited the number of screenings per day.
Also see: James Bond keeps his date as 'No Time To Die' finally premieres in London
It`s also the first Hollywood tentpole with real competition at the box office. Sony`s comic book sequel 'Venom: Let There Be Carnage' opened last weekend and has continued to pull in crowds, which may have affected ticket sales for Bond.
With 'No Time to Die' claiming the No. 1 spot on domestic box office charts, the 'Venom' follow-up slid to second place with $32 million, a figure that`s more than many pandemic-era releases have made in their entire theatrical run. In total, 'Venom: Let There Be Carnage' has generated a mighty $141 million in North America and $185 million worldwide.
Also read: Box Office: Neither Daniel Craig's 'No Time To Die' nor 'Venom 2', this film is ruling this weekend!
Since Bond is a property that tends to skew toward older audiences, a demographic that doesn`t always make an effort to watch a film on its opening weekend, box office analysts have been encouraged by 'No Time to Die' and feel that the film's earnings will pick up in the coming weeks.
(With inputs from agencies)