James Bond has done it again with its opening-weekend release of Skyfall, which marks the 23rd installment of the infamous James Bond franchise which celebrates 50 years in the making. The recent Bond film has brought in almost $21 million more than its last debut of Quantum of Solace back in 2008. Skyfall made a record of $88.4 million in the U.S. during its opening weekend, including overseas sales of $427.8 million as of Nov. 11.
Many have been a bit stirred by the numbers at the success of Skyfall. This could very well be the first Bond film and the 14th film worldwide ever to pass the $1 billion mark at the box office.
According to Wunderlich Securities analyst Matthew Harrigan, “In particular, the numbers in the U.K. and Latin America have been astonishing.”
“It speaks to the strength of the Bond franchise,” said Harrigan.
Three major players will benefit from the film’s success: the distributor Sony Pictures and studio MGM; producers and rightsholders Michael G. Wilson, 70, and Barbara Broccoli, 52.
Back in 2010, MGM and Sony established a deal that set MGM free from bankruptcy. Inside sources say that the movie’s profits will be split among MGM, Wilson and Broccoli; approximately 75 percent will be jointly collected, leaving Sony with the other remaining 25 percent, which helped to fund part of the production budget (nearly $210 million) of Skyfall.
As far as how the 75 percent will be split among MGM and the Broccoli family it will be based on contracts signed between two companies controlled by Wilson and Broccoli, Danjaq LLC and Eon Prods, and of course, MGM. All of these companies will roughly partake in $150 million, if the movie brings in $1 billion, according to a finance expert.
This comes at a great time for MGM, just when The Hobbit is getting set to be released on Dec. 14, courtesy of Warner Bros. “This is very good for an IPO situation,” suggests analyst Harold Vogel of the impressive numbers of Skyfall. “I believe they can use this capital to tide them over when they don’t have a Bond or a Hobbit movie. Having such phenomenal success with a franchise that isn’t ending anytime soon is important in putting any kind of a roadshow presentation together,” Vogel adds.
But it was the main star of Skyfall, Daniel Craig that made $17 million for his role as Bond and will likely receive a pay raise for Bond 24, a new film which is being developed by Skyfall-co-writer John Logan. This ingenuous idea will be the first time ever that the storyline will span to two films. Craig could very well emerge into Hollywood’s very top stars that are making in the $20 million-plus zone.
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