No Time To Die: Here's how much the film's delay is costing its makers

'No Time To Die', the 25th film in the James Bond franchise, has been facing roadblocks for quite some time. The film's release date has changed multiple times due to the pandemic.

It was initially slated to hit theatres in April 2020 but was pushed to November due to COVID. However, with uncertainty looming large all over the world, the makers decided to push the film further to 2021.

While the fans are awaiting the film's release eagerly, the delay has caused a huge dent on MGM Studio's (producers of the film) pocket. According to a report in The Hollywood Reporter, the makers are suffering a loss of $1 million in interest a month due to the delay in the release of the film. The makers are reportedly taken a huge loan for the film.

Hal Vogel, CEO of Vogel Capital Research told the website, "MGM is suffering. Every major distributor at this point has a pile of unreleased expensive movies. The pile grows larger by the day. These films are inventory. They are sitting there with no return on their investment. Even with low-interest rates, the interest costs are piling up. So going the streaming route is not that crazy. You’ve spent the money. And you’re not getting it back anytime soon."

Hollywood has been facing major losses due to the pandemic as many theatres in the UK and US are yet to function in its full capacity. In recent months, Warner Bros released their big-budget highly anticipated film- 'Tenet' in theatres. But the film incurred huge losses for the studio.

Similarly, Disney released its big-budget 'Mulan' on its OTT platform in a Pay-Per-View format and that movie too hasn't been able to recover costs.

There were rumours that MGM would also take the digital route with 'No Time To Die' and release the film on one of the OTT platforms but the studio later denied the news. The film is set to hit theatres in April 2021.

'No Time To Die' will have actor Daniel Craig playing the famous spy for the final time. Oscar-winner Rami Malek will be playing the Bond villain in the film.