Cinemas close down leaving the British economy millions of pounds poorer this winter - and James Bond left dangling by the Covid 19 crisis

James Bond is big business and cancelling the latest Bond film’s cinema premier is a massive blow to the British economy and the print and promotions sector in particular. Recent James Bond movies generate around £100m at the UK box office and contribute a large slice of the £5bn the film industry contributes to the UK’s GDP.

With Cineworld planning to close their screens this winter and the Odeon also shutting down many of their 120 picture houses in the week more than 5,500 jobs will go with the knock on effect to all the supporting businesses. Apart from the income from concessions selling popcorn and ice creams at the cinemas there are the Prezzos, Nandos, Pizza Expresses and the like nearby that will be hit along with taxi and bus companies let alone the pubs.

^{Daniel Craig, Lea Seydoux and director Cary Joji Fukunaga} 

Ian Carrotte of ICSM Credit whose members include a large number of printers, publishers and paper suppliers said: “Publishers of the James Bond novels written by Ian Fleming always see a rise in sales of the spy books as a knock on effect as 007 saturates the media for a few weeks in the build up to the screening of the next movie.

“So far 100 million copies of Fleming’s titles have sold plus the spin off novels written by other authors such as Charlie Higson and Sebastian Faulks. Apart from the booksellers, the publishers and the printers there’s the POS material and advertising to promote the books.”

The film No Time To Die also features music by Hans Zimmer and a song by Billie Eilish which are all part of money spinning operation with downloads, CDs and DVDs to back up the sales drive. And then there are the programmes, tickets, posters and magazines printed and published to promote the movie plus all manner of items from coins to badges and postcards to gadgets. Even the sale of Bond’s cars such as the Aston Martin featured in the forthcoming movie see a surge in demand. His jackets, his drinks, the gowns and lingerie of his various girlfriends also see a spike in sales and then we mustn’t forget the tourist industry and associated product such as Scotch whisky and even marmalade.

^{Bond girl: Ana De Armas}

Ian Carrotte said: “Skyfall increased visitor numbers to Glencoe in Scotland by 43% after its screening, while Spectre encouraged tourists to Blenheim Palace, Westminster Bridge and City Hall. Each location sees a rise in visitors which the hotels, cafes and pubs are only too happy to accommodate. Yes there is product placement but the whole film is like an advert for Great Britain.

“By moving the release of No Time To Die to 2021 has hit the UK economy by several billion when you add it all up with some firms folding as for them it is the straw that breaks the camel’s back.”

Cineworld’s share price has dipped as the company has seen a £1.3bn loss worldwide in the six months up to June – all thanks to Covid-19.

About ICSM Credit

ICSM Credit has more than four decades of experience as a credit intelligence group whose members gain inside information about firms in trouble allowing them to avoid bad debts and rogue traders. To join costs less than a tank of fuel - while at the moment there's a special free temporary membership offer during the Covid-19 crisis which gives access to free legal letters. ICSM also has an effective debt collecting service which has a global reach - ask for details from Paul.

For details about ICSM Credit call 0844 854 1850 or visit the website www.icsmcredit.com or email Ian at Ian.carrotte@icsmcredit.com on how to subscribe and to join the UK’s credit intelligence network to avoid bad debts and late payers. Follow ICSM Credit on FaceBook, Twitter and YouTube and Ian Carrotte on LinkedIn.

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For details for the work of the journalist Harry Mottram visit www.harrymottram.co.uk