Why Netflix Not Getting No Time To Die Avoided Disaster For Cinema

MGM was rumored to be looking to sell No Time to Die to a streaming service during the pandemic. It's good for cinemas that the sale didn't happen.

A rumor (via Variety) suggested that during the pandemic's peak, MGM was seriously considering selling No Time to Die to a streaming service which, if true, could have been disastrous for the cinema industry. It was no secret that cinemas struggled, alongside other retail and entertainment sectors, throughout the COVID-19 crisis. Had No Time to Die been sold to Netflix, Apple, or any other streaming service, it would have taken an essential hit away from cinemas worldwide.

No Time to Die was the 25th entry in the James Bond franchise, and the fifth film to star Daniel Craig in the leading role. The film was initially slated to be released in November 2019. It was pushed back to February 2020, then April 2020, due to the ongoing pandemic and the departure of original director Danny Boyle. The film was eventually released in cinemas in September 2021 in the UK and October in the US, with director Cary Joji Fukunaga replacing Boyle.

Had No Time to Die been sold to Netflix for an exclusive streaming release, it would have been a severe blow to the already flailing cinema industry. Before Spider-Man: No Way Home became the first post-pandemic film to crack $1 billion, No Time to Die was the highest-grossing movie of this period, with the exception of two Chinese films Hi, Mom and The Battle at Lake Changjin. No Time to Die thus provided vital funds that may well have kept some smaller cinemas going with its impressive $774 million global box office performance.

Several studios like Paramount and Sony made the decision to sell the distribution rights for films like Coming 2 America and Greyhound to streaming services like Netflix to offset lost earnings that came from trying to sell a film as people worldwide were being told to stay indoors. In some countries, cinemas were even closed altogether for lengthy national lockdowns. While the number of streaming users shot up, cinemas needed releases like No Time to Die and eventually films like Shang Chi and the Legend of the Ten Rings to boost ticket sales.

It would have been easy for MGM to adopt the same practices as Sony and Paramount. Indeed, the market leader in blockbuster entertainment, Disney, even started releasing its new films exclusively to Disney+, or via a hybrid model, which proved controversial with audiences and stars like Scarlett Johansson alike. Had MGM done the same with No Time to Die, it would've eliminated one of few movies during the pandemic that provided a vital lift to cinemas, many of which were sadly forced to lay off thousands of employees due to a lack of business (via Sky News).

No Time to Die was one of the biggest movies to come out of a very difficult period for the film industry, and it was a fundamentally good thing that MGM didn't sell it to Netflix or any other streaming service. While it wasn't confirmed, it seemed likely that the studio was seriously considering a sale. For the sake of the film industry around the world, it's fortunate that James Bond remained in cinemas.

Next: Why No Time To Die Ends With All The Time In The World