James Bond Movie Poised to Top $100 Million in Weekend Ticket Sales
Movie Theater Industry Looks to James Bond for Jolt
The latest James Bond movie, No Time to Die, is on track to rake in $100 million in US opening box office sales when it debuts this weekend. If the movie meets those expectations it will be the first film to reach $100 million in opening weekend ticket sales since the pandemic began. The James Bond movie already topped ticket sales projections internationally and is outperforming advanced ticket sales in the US.
As it stands, Venom: Let There Be Carnage, a Sony (SONY) flick which debuted this past weekend, is in the lead with $90.1 million in weekend box office sales. No Time to Die’s presales are similar to those for Venom.
Streaming Services Still Thunder
The success of the latest James Bond sequel could be the boost the movie industry needs after the pandemic wreaked havoc on the sector. Movie theaters shuttered and studios were forced to delay production. Many studios released their movies on streaming services during the pandemic, but are now rethinking that strategy after seeing the successes of recent films on the big screen. For example, Disney (DIS) will release the last six films on its calendar for 2021 in theaters only.
No Time to Die could have an extra edge at the box office. It is the first James Bond movie shot using cameras designed for IMAX’s huge screens. It was also shot in 3D, which enables movie theater operators to charge more for the tickets. It could also attract viewers back to theaters to get an experience which isn’t available to them on their couches at home.
While No Time to Die is being released exclusively in movie theaters, that was not always the plan for the film. Metro-Goldwyn-Mayer (MGMB) tried to sell the unreleased James Bond movie to Apple TV (AAPL) and Netflix (NFLX) but they were unable to reach a deal. Streaming services, or at least Amazon (AMZN), will still get access to the movie eventually—Amazon inked a $8.5 billion deal in May to buy MGM.
The movie theater industry needs a win to revive box office ticket sales. Judging from international and advanced box office sales for No Time to Die, the latest James Bond flick may be what it takes to get people back to the movie theaters.
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