“Unnamed and uninformed sources suggesting the film will lose money are categorically unfounded and put more simply, not true,” an MGM spokesperson said

Over the weekend, “No Time to Die” eclipsed $730 million in global ticket sales, making the James Bond sequel both the year’s highest-grossing Hollywood film and the top performing film at the box office since COVID-19 appeared on the scene and nearly shut down the movie business, reports Variety.

The action-packed spy spectacle, which endured several coronavirus-related delays, has become the rare pandemic-era box office hit, which is even more impressive considering adult audiences — the core demographic for “No Time to Die” — have been reluctant to return to theaters. However, the movie cost more than $250 million to produce, at least $100 million to promote and tens of millions more to postpone over 16 months. Insiders say “No Time to Die” needs to make closer to $900 million to break even, a feat that would have been realistic had a global health crisis not entirely upended the theater industry. As a result, the film now stands to lose $100 million in its theatrical run, according to sources close to production. Other industry sources suggest the losses wouldn’t quite reach the nine-figure mark though they would still be substantial.

MGM, the studio behind Bond’s latest adventure, disputes this math. In a statement to Variety, the company insisted “No Time to Die” didn’t just break even but was a money maker.

“Unnamed and uninformed sources suggesting the film will lose money are categorically unfounded and put more simply, not true,” an MGM spokesperson said in a statement. “The film has far exceeded our theatrical estimates in this timeframe, becoming the highest grossing Hollywood film in the international marketplace and passing ‘F9’ to become the highest grossing Hollywood film since the pandemic. With the PVOD release of the film already doing stellar home viewing business, all while continuing to hold well theatrically, ‘No Time To Die’ will earn a profit for MGM, both as an individual film title and as part of MGM’s incredible library.”

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