List of most expensive films

The theatrical poster for Ben-Hur (1925) depicting a man behaving in a sexually aggressive manner towards a woman cowering from him.
Ben-Hur (1925) was the most expensive film of the silent-era, possibly holding the record for over twenty years.

Due to the secretive nature of Hollywood accounting it is not clear which film is the most expensive film ever made. Pirates of the Caribbean: On Stranger Tides officially holds the record with a budget of $378.5 million, while The Hobbit trilogy stands as the most expensive back-to-back film production with combined costs of $623 million after tax credits.

Inflation, filming techniques and external market forces have impacted the economics of film production. Costs rose steadily during the silent era with Ben-Hur (1925) setting a record that lasted well into the sound era. Television had a direct impact on rising costs in the 1950s and early 60s as cinema competed with it for audiences, culminating in 1963 with Cleopatra; despite being the highest earning film of the year, Cleopatra did not earn back its costs on its original release. The 1990s saw two thresholds crossed, with True Lies costing $100 million in 1994 and Titanic costing $200 million in 1997, both directed by James Cameron. Since then it has become normal for a tent-pole feature from a major film studio to cost over $100 million, and an increasing number of films are costing $200 million or more. So far only two films have cost over $300 million: 2007's Pirates of the Caribbean: At World's End and its 2011 sequel Pirates of the Caribbean: On Stranger Tides.

This list contains only the films that are already released to the general public, and no films that are still in production, post-production or just announced films, for the reason that these costs can still change in the production process. Listed below is the net negative cost: the costs of the actual filming, not including promotional costs (i.e. advertisements, commercials, posters, etc.) and after factoring in any tax rebates or credits. The charts are ordered by budgets officially acknowledged by the production companies, where they are known; most production companies, however, will not give a statement on the actual production costs, so only estimates by professional researchers and movie industry writers are available. Where budget estimates conflict, the productions are charted by lower-bound estimates.

Most expensive productions (unadjusted for inflation)

Only productions with a net budget over a nominal value of $150 million U.S. dollars are listed here. Due to the effects of inflation, all but three of the films on the chart have been produced in the 21st century.

Films

Most expensive films
Rank Title Year Cost (est.)
(millions)		 Refs & notes
1 Pirates of the Caribbean: On Stranger Tides 2011 *$378.5 [1][nb 1]
2 Pirates of the Caribbean: At World's End 2007 $300 [2][3][nb 2]
3 Avengers: Age of Ultron 2015 *$279.9 [4][nb 3]
4 John Carter 2012 *$263.7 [5][nb 4]
5 Tangled 2010 $260 [6][7][8][9]
6 Spider-Man 3 2007 *$258 [10]
7 Harry Potter and the Half-Blood Prince 2009 $250 [11][12]
The Hobbit: The Battle of the Five Armies 2014 $250 [13]
Batman v Superman: Dawn of Justice 2016 $250 [14][15][nb 5]
Captain America: Civil War 2016 $250 [16][17][18]
11 Spectre 2015 $245 [19][20][nb 6]
12 Avatar 2009 *$237 [21][nb 7]
13 The Dark Knight Rises 2012 $230 [22][nb 8]
14 The Chronicles of Narnia: Prince Caspian 2008 *$225 [23]
The Lone Ranger 2013 *$225 [24][nb 9]
Pirates of the Caribbean: Dead Man's Chest 2006 $225 [2][25][nb 2]
Man of Steel 2013 $225 [26][27][nb 10]
The Hobbit: The Desolation of Smaug 2013 $225 [28][29][nb 11]
19 The Avengers 2012 $220 [30][31][32][33]
20 Men in Black 3 2012 *$215 [34][nb 12]
Oz the Great and Powerful 2013 *$215 [35][nb 13]
22 X-Men: The Last Stand 2006 $210 [36][37]
Transformers: Age of Extinction 2014 $210 [38][39][40]
24 Battleship 2012 *$209 [41]
25 King Kong 2005 $207 [42][43][44]
26 Superman Returns 2006 *$204 [45][46][nb 14]
27 Titanic 1997 *$200 [47][48][49]
Transformers: Revenge of the Fallen 2009 *$200 [50]
2012 2009 *$200 [51]
Spider-Man 2 2004 $200 [52][53]
Quantum of Solace 2008 $200 [54][55]
Terminator Salvation 2009 $200 [56][57]
Toy Story 3 2010 $200 [58][59]
Green Lantern 2011 $200 [60][61][62]
Cars 2 2011 $200 [63][64][65]
The Amazing Spider-Man 2012 $200 [66][67][nb 15]
The Hobbit: An Unexpected Journey 2012 $200 [68][nb 16]
Iron Man 3 2013 $200 [69][70][71]
Monsters University 2013 $200 [72]
The Amazing Spider-Man 2 2014 $200 [73][74][nb 17]
X-Men: Days of Future Past 2014 $200 [75][76][nb 18]
Star Wars: The Force Awakens 2015 $200 [77][78][79]
43 Guardians of the Galaxy 2014 *$195.9 [80][nb 19]
44 Transformers: Dark of the Moon 2011 $195 [81][82][83][84]
45 World War Z 2013 *$190 [85][86][nb 20]
Furious 7 2015 $190 [88][89][90]
47 Brave 2012 *$185 [91]
Jack the Giant Slayer 2013 *$185 [92][nb 21]
Indiana Jones and the Kingdom of the Crystal Skull 2008 $185 [93][94][95]
The Dark Knight 2008 $185 [25][96][97]
Star Trek Into Darkness 2013 $185 [72]
Star Trek Beyond 2016 $185 [98][99][100]
53 The Golden Compass 2007 *$180 [101][102]
Pacific Rim 2013 *$180 [103][104][nb 22]
The Chronicles of Narnia: The Lion, the Witch and the Wardrobe 2005 $180 [105][106][107]
WALL-E 2008 $180 [108][109]
Tomorrowland 2015 $180 [110][111][112][nb 23]
The Legend of Tarzan 2016 $180 [114][115][116]
Fantastic Beasts and Where to Find Them 2016 $180 [117][118][119]
60 X-Men: Apocalypse 2016 $178 [120][121][122][123]
61 Troy 2004 *$175 [124]
Evan Almighty 2007 $175 [125][126][127]
Monsters vs. Aliens 2009 $175 [128][129][130]
Up 2009 $175 [131][132]
A Christmas Carol 2009 $175 [133][134]
47 Ronin 2013 $175 [135][136][nb 24]
Maleficent 2014 $175 [138][nb 25]
Edge of Tomorrow 2014 $175 [141][142][nb 26]
Jupiter Ascending 2015 $175 [146][147][nb 27]
Inside Out 2015 $175 [152][153]
The Good Dinosaur 2015 $175 [154][155][nb 28]
The Jungle Book 2016 $175 [156][157][158]
Finding Dory 2016 $175 [159][nb 29]
Suicide Squad 2016 $175 [160][161][162]
75 Waterworld 1995 *$172 [163][164][nb 30]
76 Snow White and the Huntsman 2012 *$170 [165]
Thor: The Dark World 2013 *$170 [166]
Wild Wild West 1999 $170 [167][168]
G.I. Joe: The Rise of Cobra 2009 $170 [169][170]
Iron Man 2 2010 $170 [171][172][173][174]
Tron: Legacy 2010 $170 [175][176][177][178]
Captain America: The Winter Soldier 2014 $170 [179][180][181]
Dawn of the Planet of the Apes 2014 $170 [182][183][184]
Alice Through the Looking Glass 2016 $170 [120][121][122][123]
85 Terminator 3: Rise of the Machines 2003 $167 [185][nb 31]
86 Doctor Strange 2016 *$165 [186]
How to Train Your Dragon 2010 $165 [187][188][189]
Wreck-It Ralph 2012 $165 [190][191]
Big Hero 6 2014 $165 [192][193]
Interstellar 2014 $165 [192][193][194]
Independence Day: Resurgence 2016 $165 [195][196][197]
92 Cowboys & Aliens 2011 *$163 [198]
93 Sahara 2005 *$160 [199]
Fast & Furious 6 2013 *$160 [200][nb 32]
Van Helsing 2004 $160 [201][202][203]
The Polar Express 2004 $160 [204][205]
Poseidon 2006 $160 [206][207][208]
Shrek the Third 2007 $160 [209]
Inception 2010 $160 [210][211][212][213]
Godzilla 2014 $160 [214][215][nb 33]
Warcraft 2016 $160 [217][218][219]
102 Robin Hood 2010 *$155 [220][221][nb 34]
Terminator Genisys 2015 *$155 [223]
Alexander 2004 $155 [224][225]

* Officially acknowledged figure.

Back-to-back film productions

Most expensive back-to-back film productions
Rank Titles Year(s) Cost (est.)
(millions)		 Refs & notes
1 The Hobbit trilogy 2012–14 *$623 [226][nb 35]
2 Pirates of the Caribbean: Dead Man's Chest
Pirates of the Caribbean: At World's End		 2006–07 $450 [227][nb 2]
3 The Hunger Games: Mockingjay – Part 1 & Part 2 2014–15 $300 [228]
4 The Lord of the Rings trilogy 2001–03 *$260 [229][230][nb 36]
5 Harry Potter and the Deathly Hallows – Part 1 & Part 2 2010–11 $250 [231][232]
6 The Matrix Reloaded
The Matrix Revolutions		 2003 $237 [nb 37]
7 The Twilight Saga: Breaking Dawn – Part 1 & Part 2 2011–12 *$230 [nb 38]

* Officially acknowledged figure.

Most expensive films (adjusted for inflation)

The productions listed here have their nominal budgets adjusted for inflation using the United States Consumer Price Index[236] taking the year of release. Charts adjusted for inflation are usually ordered differently, because they are dependent on the inflation measure used and the original budget estimate.

The Soviet War and Peace, released in four parts across 1966 and 1967, is sometimes cited as the most expensive production ever: Soviet claims stating it cost $100 million (nearly $700 million accounting for inflation forty years on from its release) were circulated in the American press during its showing there. However, its financial records reveal it cost slightly more than $9 million (about $60–70 million in today's money).[nb 39] Another notable omission is Metropolis, the 1927 German film directed by Fritz Lang, often erroneously reported as having cost $200 million at the value of modern money. Metropolis cost $1.2–1.3 million at the time of its production, which would be about $24 million at 2009 prices according to the German Consumer Price Index.[nb 40]

Most expensive films adjusted for inflation
Rank Title Year Cost (est.) (millions) Refs & notes
Adjusted Nominal
1 Pirates of the Caribbean: On Stranger Tides 2011 $399 *$378.5 [1][nb 1]
2 Pirates of the Caribbean: At World's End 2007 $343 $300 [2][3][nb 2]
3 Titanic 1997 $295 *$200 [47][48][49]
4 Spider-Man 3 2007 $295 *$258 [10]
5 Tangled 2010 $283 $260 [6][7][8][9]
6 Avengers: Age of Ultron 2015 $280 *$279.9 [4][nb 3]
7 Harry Potter and the Half-Blood Prince 2009 $276 $250 [11][12]
8 John Carter 2012 $272 *$263.7 [5][nb 4]
9 Waterworld 1995 $268 *$172 [163][164][nb 30]
10 Pirates of the Caribbean: Dead Man's Chest 2006 $265 $225 [2][25][nb 2]
11 Avatar 2009 $262 *$237 [21][nb 7]
12 Spider-Man 2 2004 $251 $200 [52][53]
King Kong 2005 $251 $207 [42][43][44]
14 The Hobbit: The Battle of the Five Armies 2014 $250 $250 [13]
Batman v Superman: Dawn of Justice 2016 $250 $250 [14][15][nb 5]
Captain America: Civil War 2016 $250 $250 [16][17][18]
17 The Chronicles of Narnia: Prince Caspian 2008 $248 *$225 [23]
18 X-Men: The Last Stand 2006 $247 $210 [36][37]
19 Spectre 2015 $245 $245 [19][20][nb 6]
20 Wild Wild West 1999 $242 $170 [167][168]
21 Cleopatra 1963 $241 *$31.1 [270][nb 41]
22 Superman Returns 2006 $240 *$204 [45][46][nb 14]
23 The Dark Knight Rises 2012 $237 $230 [22][nb 8]
24 The Lone Ranger 2013 $229 *$225 [24][nb 9]
Man of Steel 2013 $229 $225 [26][27][nb 10]
The Hobbit: The Desolation of Smaug 2013 $229 $225 [28][29][nb 11]
27 The Avengers 2012 $227 $220 [30][31][32][33]
28 Men in Black 3 2012 $222 *$215 [34][nb 12]
29 Transformers: Revenge of the Fallen 2009 $221 *$200 [50]
2012 2009 $221 *$200 [51]
Terminator Salvation 2009 $221 $200 [56][57]
32 Quantum of Solace 2008 $220 $200 [54][55]
Troy 2004 $220 *$175 [124]
34 Oz the Great and Powerful 2013 $219 *$215 [35][nb 13]
35 The Chronicles of Narnia: The Lion, the Witch and the Wardrobe 2005 $218 $180 [105][106][107]
36 Toy Story 3 2010 $217 $200 [58][59]
37 Battleship 2012 $216 *$209 [41]
Terminator 3: Rise of the Machines 2003 $216 $167 [185][nb 31]
39 Green Lantern 2011 $211 $200 [60][61][62]
Cars 2 2011 $211 $200 [63][64][65]
41 Transformers: Age of Extinction 2014 $210 $210 [38][39][40]
42 The Amazing Spider-Man 2012 $206 $200 [66][67][nb 15]
The Hobbit: An Unexpected Journey 2012 $206 $200 [68][nb 16]
44 The Golden Compass 2007 $206 *$180 [101][102]
45 Transformers: Dark of the Moon 2011 $205 $195 [81][82][83][84]
46 Armageddon 1998 $204 $140 [285][286]
Indiana Jones and the Kingdom of the Crystal Skull 2008 $204 $185 [93][94][95]
The Dark Knight 2008 $204 $185 [25][96][97]
Iron Man 3 2013 $204 $200 [69][70][71]
Monsters University 2013 $204 $200 [72]
n/a Van Helsing 2004 $201 $160 [201][202][203]
The Polar Express 2004 $201 $160 [204][205]
n/a The Amazing Spider-Man 2 2014 $200 $200 [73][74][nb 17]
X-Men: Days of Future Past 2014 $200 $200 [75][76][nb 18]
Evan Almighty 2007 $200 $175 [125][126][127]
Star Wars: The Force Awakens 2015 $200 $200 [77][78][79]
n/a WALL-E 2008 $198 $180 [108][109]
n/a Superman 1978 $198–202 $55 [289][290]

* Officially acknowledged figure.

Record-holders

A sinking boat occupied by a man holding a paddle and a topless woman.
Foolish Wives was the first film to have a $1 million budget.

Throughout the silent era, the cost of film-making grew steadily as the films became longer and more ambitious and the techniques and equipment became more sophisticated.[291] It is not known for certain which was the first film to cost $1 million or more to produce, and several myths have grown over time which belie the known facts: D. W. Griffith's Intolerance (1916) is reputed to have cost $2 million, but accounts show it cost exactly $385,906.77;[292] A Daughter of the Gods (1916) was advertised as costing a million dollars but Variety estimated its true cost at $850,000.[270] The first film that is confirmed to have had a $1 million budget is Foolish Wives (1922), with the studio taking advantage of its exorbitant price and advertising it as "The First Real Million Dollar Picture".[48]

The most expensive film of the silent era was Ben-Hur (1925),[270] costing about $4 million—an astronomical sum in those days at twenty-five times the $160,000 average cost of an MGM feature.[291] It is unclear which sound era production superseded it as the most expensive film, although this is commonly attributed to Hell's Angels (1930), directed by Howard Hughes; the accounts for Hell's Angels show it cost $2.8 million, but Hughes publicised it as costing $4 million, selling it to the media as the most expensive film ever made up to that point.[293] The first film to seriously challenge the record was Gone with the Wind (1939), reported to have cost about $3.9–4.25 million,[270] although sources from the time state that Ben-Hur and—erroneously—Hell's Angels cost more.[294] Ben-Hur was definitively displaced at the top of the chart by Duel in the Sun in 1946, meaning Ben Hur possibly held the record for 21 years.

The 1950s saw costs rapidly escalate as cinema competed with television for audiences,[295] culminating with some hugely expensive epics in the 1960s that failed to recoup their costs.[270] The most famous exponent of this trend was Cleopatra (1963), which still lost money on its initial release despite being the highest-grossing film of the year.[296] Since the 1990s, film budgets have once again seen a dramatic increase as the use of CGI has become commonplace in big-budget features.[297]

Timeline of the most expensive million dollar productions
Year Production Cost (est.)
(millions)		 Refs & notes
1922 Foolish Wives $1.104 [48]
1922 When Knighthood Was in Flower $1.5 [291]
1923 The Ten Commandments *$1.476 [298]
1925 Ben-Hur $3.967 [299][300]
1939 Gone with the Wind $3.9–4.25 [270]
1946 Duel in the Sun $5.255 [270]
1947 Forever Amber $6.375 [270]
1951 Quo Vadis $7.623 [270]
1956 The Ten Commandments *$13.272 [298]
1959 Ben-Hur $15.175 [270]
1962 Mutiny on the Bounty $19 [301][302]
1963 Cleopatra *$31.115 [270][nb 41]
1978 Superman $55 [289][290]
1988 Rambo III $58–63 [270][303]
Who Framed Roger Rabbit $58.166 [304][nb 42]
1990 Back to the Future Part II & Part III (1989–1990) †$80 [306]
Total Recall $50–60 [307][nb 43]
Die Hard 2 $62 [310][nb 43]
1991 Terminator 2: Judgment Day $94 [311][312][313]
1994 True Lies $100 [314][315][316]
1995 Waterworld *$172 [163][164][nb 30]
1997 Titanic *$200 [47][48][49]
2003 The Matrix Reloaded
The Matrix Revolutions		 †$237 [nb 37]
The Lord of the Rings trilogy (2001–2003) *†$260 [229][230][nb 36]
2005 King Kong $207 [42][43][44]
2006 X-Men: The Last Stand $210 [36][37]
Superman Returns *$204 [45][46][nb 14]
Pirates of the Caribbean: Dead Man's Chest $225 [2][25]
2007 Spider-Man 3 *$258 [10]
Pirates of the Caribbean: Dead Man's Chest (2006)
Pirates of the Caribbean: At World's End (2007)		 †$450 [227][nb 2]
Pirates of the Caribbean: At World's End $300 [2][3]
2011 Pirates of the Caribbean: On Stranger Tides *$378.5 [1][nb 1]
2014 The Hobbit trilogy (2012–2014) *†$623 [226][nb 35]
* Officially acknowledged figure.
  • Multi-film productionThe figure given is the cost of a multi-film production, where the films are produced simultaneously.

See also

Notes

  1. 1 2 3 Financial statements filed in the United Kingdom show that production costs for Pirates of the Caribbean: On Stranger Tides totaled $410.6 million between October 2009 and April 2013 offset by a tax rebate of $32.1 million.[1]
  2. 1 2 3 4 5 6 Pirates of the Caribbean: Dead Man's Chest and Pirates of the Caribbean: At World's End were produced together on a combined budget of $450 million.[227] Budget overruns reportedly pushed the final cost of the joint production up to a total of $500 million. The individual budget estimates conjecture how the overall budget was divided between the two films, but many of the costs are indivisible such as the fees for the actors who appeared in both films and would most likely have been contracted for a single fee, and the cost of the sets common to both films.[10]
  3. 1 2 Disney spent $330.6 million on Avengers: Age of Ultron between February 2013 and November 2014 but $50.7 million of this was offset by payments from the UK tax authority.[4]
  4. 1 2 Financial statements filed in the United Kingdom show that production costs for John Carter totaled $306.6 million between 2010 and 2013 offset against a tax rebate of $42.9 million. The net budget was $263.7 million, a figure consistent with Disney's claim that the film cost "around $250 million".[5][257][258]
  5. 1 2 The budget for Batman v Superman was at least $250 million, after rebates and tax incentives. According to The Hollywood Reporter, sources put the figure significantly higher, or $325 million.[267]
  6. 1 2 Internal memos that were leaked during the Sony Pictures Entertainment hack revealed that the budget for Spectre at the time stood in the "mid $300Ms" with Sony actively pursuing measures to reduce the expenditure.[268] The leaked figure continues to be widely reported by the media, but after rebates the production ultimately cost $245–250 million.[19][20][269]
  7. 1 2 Estimates for Avatar's cost have varied considerably with some as high as $500 million.[259] The $500 million figure also incorporates the $150 million marketing budget, and the costs of developing the necessary 3-D cameras and motion capture technology which were independently financed by private investors and none of which are included in the production cost.[260][261] Recent estimates put the production costs at about $310 million, although a 15% tax rebate from New Zealand is expected to reduce the final bill by $25–30 million,[262][263] which would ultimately put the cost at around $280 million.[260] Avatar was initially budgeted at $190 million[264][265] but the studio later acknowledged it cost $237 million after its budget came under intense media scrutiny.[21] A further $1 million per minute were spent on the nine minutes of extra footage in Avatar: Special Edition.[266]
  8. 1 2 Expenditure on The Dark Knight Rises is estimated to be about $250–300 million, with the cost of production coming down to around $230 million after tax credits.[22]
  9. 1 2 Studio reps for Disney state the cost of the production was $225 million, although other estimates put the film's cost at around $250 million with over $150 million spent on worldwide marketing and distribution.[24]
  10. 1 2 People close to Warner and the film's production offered slightly different estimates for its final cost, ranging between $225 million and $270 million, split between the studio and Legendary Pictures LLC.[271]
  11. 1 2 Most reports put the production cost of The Hobbit: The Desolation of Smaug at around $225 million and spending on marketing upwards of $100 million,[272] although some estimate the budget to be slightly higher at $250 million.[273]
  12. 1 2 Some estimates put the production budget for Men in Black 3 at nearly $250 million;[274] however, a $38 million tax rebate from New York is expected to bring the final cost down to about $215 million.[275]
  13. 1 2 Disney claim that Oz the Great and Powerful cost $215 million,[35] although an insider suggests its cost was approximately $235 million.[276]
  14. 1 2 3 Warner Bros. put the production cost of Superman Returns at $223 million, and around $204 million after factoring in tax credits. Some other estimates place the figure higher, but these higher numbers include the development costs of earlier aborted projects, taking the total figure to $263 million.[45] Warner later stated it cost $209 million,[326] although the film's director Bryan Singer maintains that the approved budget was $184.5 million, and it eventually came in at $204 million: "So the hard, honest number is $204 million."[46]
  15. 1 2 The official cost of The Amazing Spider-Man is unknown; however, various estimates put its cost at $200 million,[66] $215 million,[282] $220 million,[283] and $230 million.[284]
  16. 1 2 A knowledgeable source says the first two installments cost $315 million each, and that's with Jackson deferring his fee. A studio source insists that number is wildly inflated and, with significant production rebates from New Zealand, the cost is closer to $200 million a movie.[68]
  17. 1 2 The Amazing Spider-Man 2 cost over $200 million, with some sources placing the budget at over $250 million.[287]
  18. 1 2 Most reports put the cost of X-Men: Days of Future Past at around $200 million, but The Wall Street Journal gives a precise net figure of $215 million.[288]
  19. ↑ Financial statements filed in the United Kingdom show that production costs for Guardians of the Galaxy totaled $232.3 million offset by a tax rebate of $36.4 million.[80]
  20. ↑ Paramount Pictures admit to spending $190 million on World War Z,[85][86] although sources at rival studios estimate the true cost is closer to $210 million.[87]
  21. ↑ New Line Cinema claim that Jack the Giant Slayer cost $185 million, although insiders suggest it cost over $200 million.[92]
  22. ↑ Warner Bros. state that the film's budget was $180 million. Some industry insiders say the true cost of the film was closer to $200 million, although the film's director, Guillermo del Toro, claims to have brought the film in under budget.[103][104]
  23. ↑ Most publications have reported the budget for Tomorrowland in the $180–190 million range.[113]
  24. ↑ There have been contradictory statements in regards to the budget with people close to the project having stated it cost $175 million[135] and $225 million[137] respectively to produce, although Universal Studios dispute the higher figure.[136]
  25. ↑ Some sources put the budget for Maleficent slightly higher at $180 million,[139] while others place it at $200 million.[140]
  26. ↑ Most sources place the cost of Edge of Tomorrow at $175–200 million,[143] with several picking out the specific figure of $178 million.[144][145]
  27. ↑ Most reports put the cost of Jupiter Ascending at $175–179 million,[147][148][149][150] although The New York Times puts the budget slightly higher at $200 million.[151]
  28. ↑ The Good Dinosaur, like other Pixar features, is said to have cost $175 million to $200 million.[154][155]
  29. ↑ Disney did not provide a budget, but Pixar films typically carry price tags between $175 million to $200 million.[159]
  30. 1 2 3 After Waterworld ballooned from its initial $100 million budget,[317] people involved in the project estimated the final production cost at around $175–180 million,[318] with Kevin Costner—also a producer on the film—confirming it had cost $172 million.[163] Including distribution and marketing the total cost of producing and releasing the film came to $235 million.[319]
  31. 1 2 The production budget for Terminator 3 was initially set at $169–170 million,[277][278] making it the most expensive film ever to be greenlit at the time.[279][280] Budget statements put the final cost of the film at $187 million (or $167 million excluding the production overhead).[185][281]
  32. ↑ A person close to the production put the budget for Fast & Furious 6 at close to $200 million. However, a spokesman for Universal claimed that the final budget was $160 million due to tax credits in the United Kingdom.[200]
  33. ↑ The budget for Godzilla was $195 million, with tax credits bringing the net cost down to $160 million.[216]
  34. ↑ A spokesman for Universal stated that Robin Hood cost $155 million to produce after tax credits; however, this figure does not take into account the $25 million costs incurred by an earlier aborted production, and estimates put the total cost of the production at $200 million.[220][222] The Wrap obtained a purported copy of the budget showing expenditure totalling $237 million.[221]
  35. 1 2 Financial documents filed in New Zealand show that production costs on The Hobbit trilogy totaled $745 million through March 2014 against a $122 million tax rebate.[226]
  36. 1 2 Wingnut Films stated that the budget for the three Lord of the Rings films was $260 million, however estimates of the cost during production varied from $270 million to $360 million, none of which were confirmed or denied by Wingnut.[229] Estimates put the final cost at around $285 million.[2]
  37. 1 2 The Matrix Reloaded and The Matrix Revolutions were produced together at a reported cost of $127 million[320][321][322] and $110 million[323] respectively for a combined total of $237 million. Some reports put the combined cost of the production at $300 million.[324][325]
  38. ↑ Summit Entertainment projected a total cost of $263 million for both parts, with $127.5 million to be spent on the first part, and the second costing $136.2 million.[233] After tax rebates, Part 1 cost $110 million,[234] and Part 2 cost $120 million.[235]
  39. ↑ The $100 million figure, based on Soviet statements, appeared frequently in the U.S. press in 1968, when War and Peace was released in the country. The New York Times reported it was "the most expensive film ever made... Russians say cost $100 million."[237] New York Magazine asserted that "what the Russians estimate to be the equivalent of $100 million"[238] was invested in making it. Other, conflicting estimates were issued by the Soviets to news outlets in other countries (see War and Peace: Budget). Yet, the protocols of the Soviet State Committee for Cinematography from 25 August 1964 record a meeting of the agency's directors in which a final budget of 8.5 million Soviet ruble was approved for the series; it included all expenses to be made, including 2.51 million to cover those of the Soviet Ministry of Defense, which supplied thousands of soldiers as extras and other assistance.[239] According to the producers' financial statements, compiled after the work on the series was completed in August 1967, the total cost of the film came to 8,291,712 Soviet ruble[240]—or $9,213,013 with the 1967 0.9 ruble = $1 exchange rate.[241] It is technically impossible to adjust the ruble for inflation since the Soviet Union did not formally acknowledge it; instead, the USSR would periodically reprice everything from goods to labour to services. Inflation is usually measured in Western free market economies using a price index such as the Consumer price index, but no such measure existed in the case of the Soviet Union. However, it is possible to measure the increase in average annual earnings in the Soviet Union and there is typically a strong correlation between average earnings and inflation.[242] In 1965 the average annual wage in the Soviet Union was 1,158 Soviet rubles,[243] and in 2013 the average monthly salary in Russia was 30,000 Russian rubles (the Russian ruble replaced the Soviet ruble in Russia after the fall of the Soviet Union), amounting to 360,000 rubles per year.[244] This puts salary inflation at over 30,000% (if the 1998 redenomination of the ruble is factored in, but if not then the true inflation level is 1,000 times higher at 30,000,000%). Applying this rate of inflation to the original cost (8,291,712 rubles) of War And Peace would yield an approximate amount of 2.5 billion Russian rubles. At an exchange rate of approximately 38 rubles to the US dollar,[245] this would be equivalent to about US$66 million in 2013, and considerably less than the $700 million figure that is often reported.[246][247][248]
  40. ↑ Metropolis originally cost 5.1 million[249] or 5.3 million[250] Reichsmarks in 1927, depending on the source, equivalent to $1.2–1.3 million at a conversion rate of US$1 = RM 4.2080.[251] Calculating the effects of inflation is complicated, since Germany has undergone two currency conversions since Metropolis was produced. As part of the Marshall Plan following World War II, the Deutsche Mark replaced the Reichsmark in 1948 to stave off hyperinflation. However, this was not a simple redenomination exercise: while the Deutsche Mark replaced the Reichsmark at an official rate of DM 1 to RM 10, this only applied to the actual currency, with wages, products and services charged at a rate of DM 1 to RM 1 (see Deutsche Mark: Currency reform of June 1948). This was equivalent to introducing 1000% inflation into the old currency before replacing it. As of 1948, Metropolis would have cost RM 6.2 million adjusted for inflation according to the German Consumer price index; redenomination would have inflated that to RM 62 million, which would have been equivalent to DM 6.2 million in the new currency.[252] This only applied to West Germany, but following German reunification, the Deutsche Mark later replaced the East German mark and exchanged at parity. The second redenomination occurred in 1999 when Germany converted to the euro, and this time fully adhered to the conventions of a basic redenomination, with all financial assets exchanged at a rate of DM 1.95583 to €1;[253] at this time, Metropolis would have cost DM 29 million,[252] equivalent to €15 million after conversion. At 2009 prices, it would cost about €17 million,[252] equivalent to US$24 million at an exchange rate of €0.7198 to the dollar.[245] Often reported as having cost $200 million at the value of modern money,[254][255] this estimate is clearly in error by a factor of ten; it is most likely that it came about by adjusting the original cost for inflation, converting the German marks to euros, and then converting the euro figure to US dollars. The process probably failed to account for the fact that the original cost was in Reichsmarks and not Deutsche Marks, so must be divided by 10 to get the equivalent Deutsche Mark value.[256] In applying this methodology, the estimate would come down to about $20 million, and more in line with the CPI figure.
  41. 1 2 With top tickets set at an all-time high of $5.50,Cleopatra had amassed as much as $20 million in such guarantees from exhibitors even before its premiere. Fox claimed the film had cost in total $44 million, of which $31,115,000 represented the direct negative cost and the rest distribution, print and advertising expenses. (These figures excluded the more than $5 million spent on the production's abortive British shoot in 1960–61, prior to its relocation to Italy.) By 1966 worldwide rentals had reached $38,042,000 including $23.5 million from the United States.[270]
  42. ↑ The figure for Who Framed Roger Rabbit includes the production overhead. Amblin Entertainment and Touchstone Pictures placed the actual expenditure on the film itself at around $50 million,[305] but it is not clear if the figures for the other films on the list include or exclude the overhead. Interest payments on the budget came to $17,105,000 which brought the full financial commitment on production to over $75 million.[304]
  43. 1 2 20th Century Fox put the official budget of James Cameron's The Abyss (1989) at $43 million;[308] however, some estimates place the true cost as high as $70 million, which would have made it the most expensive film made up to that point.[309]

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