Thanks to technological developments, shooting a movie is easier than ever before. Despite this, Hollywood has produced over the last two decades some of the most expensive films ever made.

These mega budget films generally pay off from the studio’s perspective. Many of the most expensive movies of all time are also the top grossing movies of all time. Even when an extravagant film fails to recoup costs in the United States, it generally makes a profit in the global market.

24/7 Wall St. has identified the most expensive movies ever made, adjusting each film’s production budget for inflation.

Click here to see the 50 most expensive movies ever made.
Click here to see our methodology.

All but four of the most expensive movies were produced after the year 2000. Further still, 29 of the 50 were produced in the last eight years. Since the rise of the “blockbuster,” Hollywood has trended towards producing a small number of movies that are extremely costly rather than many movies with smaller budgets. Not only do these big-ticket films frequently perform extremely well at the box office, but also they are more likely to produce other successful streams of revenue, such as merchandise.

The majority of the most expensive films are also part of a film franchise. There are four films from the Pirates of the Caribbean series, three Hobbit movies, and three Transformers. Once a franchise has developed a devoted following, it becomes less risky for the studio to put money into a new installment because the fans will likely show up.

The growing importance of international markets also certainly has influenced Hollywood’s economic model. Twenty-three of the 50 most expensive movies actually lost money in the domestic market. However, only one film failed to fully earn its production budget back at the worldwide box office — Walt Disney Pictures’ 2013 “The Lone Ranger.”

50. Transformers: Age of Extinction (2014)
> Production budget: $216,733,421
> Worldwide gross: $1,139,438,883

“Transformers: Age of Extinction,” the second most expensive movie made in 2014, ended up making the most money that year.

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49. Transformers: The Last Knight (2017)
> Production budget: $217,000,000
> Worldwide gross: $603,968,683

The fifth Transformers film cost approximately the same amount to produce as the previous film in the series, yet it grossed barely half as much worldwide.

48. Terminator 3: Rise of the Machines (2003)
> Production budget: $218,696,501
> Worldwide gross: $557,107,848

The high cost of “Terminator 3” was due in part to star Arnold Schwarzenegger’s $29.25 million paycheck.

47. The Chronicles of Narnia: The Lion, the Witch and the Wardrobe (2005)
> Production budget: $219,792,328
> Worldwide gross: $879,828,168

“The Chronicles of Narnia: The Lion, the Witch and the Wardrobe” was a successful attempt by Disney to target Christian audiences, following the largely unexpected success of “Passion of the Christ” the year before.

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46. Jurassic World (2015)
> Production budget: $221,237,064
> Worldwide gross: $1,720,208,939

“Jurassic World” was the second movie ever – after “Marvel’s The Avengers” – to gross $200 million in one weekend at the domestic box office.

45. Tron: Legacy (2010)
> Production budget: $221,650,123
> Worldwide gross: $443,369,804

The $221 million production budget for “Tron: Legacy” is somewhat surprising considering that the film was director Joseph Kosinski’s feature-length debut.

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44. Toy Story 3 (2010)
> Production budget: $221,650,123
> Worldwide gross: $1,185,458,009

“Toy Story 3” cost an exceptional amount due in large part to the animated film’s massive crew, many of whom are the best in their field, as well as expensive voice actors.

 

43. Prince of Persia: Sands of Time (2010)
> Production budget: $221,650,123
> Worldwide gross: $348,649,656

While the film did well overseas, “Prince of Persia: Sands of Time” performed poorly in the United States.

42. Alice in Wonderland (2010)
> Production budget: $221,650,123
> Worldwide gross: $1,136,501,156

“Alice in Wonderland” actually went over its original budget, yet did well at the box office thanks in part to the higher cost of tickets for 3D films.

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41. Battleship (2012)
> Production budget: $221,872,325
> Worldwide gross: $324,016,641

Nearly half — about $100 million — of the film’s budget went towards special effects. “Battleship,” though, is widely considered to be a major flop when the rest of the film’s costs, including marketing, are considered.

40. 2012 (2009)
> Production budget: $225,314,000
> Worldwide gross: $888,197,408

“2012” is the first movie to ever gross $700 million worldwide without passing $200 million at the domestic box office.

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39. Terminator Salvation (2009)
> Production budget: $225,314,000
> Worldwide gross: $411,752,088

“Terminator Salvation” is another big budget film that failed to recoup its production budget domestically but made up the difference – and then some – in the international market.

38. Men in Black 3 (2012)
> Production budget: $228,241,865
> Worldwide gross: $694,506,540

“Men In Black 3” cost approximately twice as much to make as the franchise’s previous film.

37. Pirates of the Caribbean: Dead Men Tell No Tales (2017)
> Production budget: $230,000,000
> Worldwide gross: $794,758,876

While being one of the most expensive films ever made, “Pirates of the Caribbean: Dead Men Tell No Tales” was still less expensive than three other films in the Pirates series.

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36. Robin Hood (2010)
> Production budget: $232,732,630
> Worldwide gross: $357,365,392

Of the near $233 million budget for “Robin Hood,” $36 million went to pay for the cast, which included Russell Crowe and Cate Blanchett.

35. The Amazing Spider-Man (2012)
> Production budget: $233,549,816
> Worldwide gross: $804,568,783

“The Amazing Spider-Man” is one of three Spider-Man films to appear on our list. The other two were directed by Sam Raimi, before the current character reboot.

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34. Man of Steel (2013)
> Production budget: $235,723,552
> Worldwide gross: $699,836,530

“Man of Steel” had the biggest June opening of all time when it was released in 2013, but it has since been eclipsed by “Jurassic World.”

33. Transformers: Revenge of the Fallen (2009)
> Production budget: $236,579,700
> Worldwide gross: $942,397,997

The budget of “Transformers: Revenge of the Fallen” was approximately $50 million higher than the first film of the series.

32. The Golden Compass (2007)
> Production budget: $237,839,437
> Worldwide gross: $426,095,219

“The Golden Compass” grossed a mere $70 million against its near $238 million production budget in the U.S. However, it fared much better internationally.

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31. The Avengers (2012)
> Production budget: $238,857,766
> Worldwide gross: $1,613,064,401

“The Avengers” is the fifth largest worldwide grossing movie of all the films on our list, adjusted for inflation.

30. Wild Wild West (1999)
> Production budget: $243,064,665
> Worldwide gross: $307,274,481

While “Wild Wild West” made money, it was near universally panned by critics.

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29. X-Men: The Last Stand (2006)
> Production budget: $249,743,690
> Worldwide gross: $546,178,682

An estimated one-sixth of the budget for “X-Men: The Last Stand” was spent solely on set construction and graphics for the film’s Golden Gate Bridge sequence.

28. The Fate of the Furious (2017)
> Production budget: $250,000,000
> Worldwide gross: $1,237,466,026

“The Fate of the Furious” took advantage of the more normalized U.S. relations with Cuba to use it as location for some of its scenes.

27. Spider-Man 2 (2004)
> Production budget: $251,177,776
> Worldwide gross: $998,570,647

Critics did not embrace “Spider-Man 2,” though the film made money. Star Andrew Garfield blamed the poor reviews on studio cuts of the movie’s original script.

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26. King Kong (2005)
> Production budget: $252,761,178
> Worldwide gross: $672,219,398

Director Peter Jackson had problems getting “King Kong” finished in the post-production stage. After editing, the film came in much longer than the 135 minutes the studio expected.

25. The Chronicles of Narnia: Prince Caspian (2008)
> Production budget: $253,313,596
> Worldwide gross: $469,858,767

Disney CEO Robert Iger felt the success of the second movie in The Chronicles of Narnia series was hurt because it was released between box-office smashes “Iron Man” and “Indiana Jones and the Kingdom of the Crystal Skull.”

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24. Captain America: Civil War (2016)
> Production budget: $254,215,220
> Worldwide gross: $1,172,750,223

“Captain America: Civil War” featured many costly special effects, including a lengthy special shot that made Robert Downey look younger.

23. Batman v Superman: Dawn of Justice (2016)
> Production budget: $254,215,220
> Worldwide gross: $882,798,139

Though the Warner Bros. pairing of the superheroes made money, buoyed by a robust marketing push, the film was not well received by critics.

22. The Hobbit: The Battle of the Five Armies (2014)
> Production budget: $258,015,977
> Worldwide gross: $985,744,661

Much of the production costs for the three Hobbit films have been offset by New Zealand’s incentive program that is paid for by taxpayers. The three Hobbit films have grossed almost $3 billion.

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21. Waterworld (1995)
> Production budget: $258,198,111
> Worldwide gross: $389,873,571

The producers of “Waterworld” built an island made of steel off the coast of Hawaii. They used all of the available steel on the Hawaiian Islands to do so. When that wasn’t enough, director Kevin Reynolds was forced to ship in more steel from California.

20. Quantum of Solace (2008)
> Production budget: $258,942,787
> Worldwide gross: $666,149,547

“Quantum of Solace” is one of four James Bond movies starring Daniel Craig and probably the least regarded of Craig’s Bond turns. Among the complications involving this production was a writer’s strike taking place at the time.

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19. Cleopatra (1963)
> Production budget: $260,722,614
> Worldwide gross: $440,745,371

“Cleopatra” is the yardstick by which Hollywood budget disasters are measured. Among the problems that plagued the movie were Elizabeth Taylor’s severe illness and the decision to move filming of the epically long motion picture to Rome’s Cinecitta Studios.

18. The Hobbit: The Desolation of Smaug (2013)
> Production budget: $261,915,058
> Worldwide gross: $1,006,138,162

A significant part of the Hobbit films production cost was director Peter Jackson’s use of advanced 3D filmmaking technology. He was also filming the Hobbit movies at 48 frames per second, twice the usual speed.

17. The Hobbit: An Unexpected Journey (2012)
> Production budget: $265,397,518
> Worldwide gross: $1,079,640,891

“The Hobbit: An Unexpected Journey” was the fifth highest grossing film in 2012. With most of the movie shot in New Zealand, cast and crew took 6,750 domestic flights there. Also, 99 sets were built for the film, according to Forbes.

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16. Pirates of the Caribbean: Dead Man’s Chest (2006)
> Production budget: $267,582,525
> Worldwide gross: $1,268,003,196

One of four Pirates of the Caribbean films on the list, this movie encountered some production snafus. Production problems included getting around on the underdeveloped roads of the mountainous Caribbean island nation of Dominica. Star Johnny Depp was paid an estimated $20 million to reprise his Jack Sparrow character.

15. Superman Returns (2006)
> Production budget: $275,907,315
> Worldwide gross: $444,882,783

Warner Bros. “Superman Returns,” directed by Bryan Singer, was criticized for not having enough action sequences and for its uninspired casting, including Kevin Spacey as villain Lex Luthor.

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14. Harry Potter and the Half-Blood Prince (2009)
> Production budget: $281,642,500
> Worldwide gross: $1,053,437,228

By the time the sixth installment of the Harry Potter series opened in 2009, all of its young stars were pulling in major salaries, driving up production costs to make it the costliest film of the franchise.

13. Titanic (1997)
> Production budget: $284,031,919
> Worldwide gross: $3,136,008,335

The costs of making “Titanic” were truly titanic. Director James Cameron built a gigantic water tank and various sets on 24 acres in Mexico. He also insisted on such details as using real wallpaper — all driving up production costs.

12. The Lone Ranger (2013)
> Production budget: $288,106,564
> Worldwide gross: $272,393,876

Johnny Depp’s star power couldn’t turn “The Lone Ranger” into a hit. Disney almost stopped production of the movie because of costs, which initially were $215 million but steadily rose. Westerns do not play well overseas, so the movie never recouped its production costs.

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11. Tangled (2010)
> Production budget: $288,145,161
> Worldwide gross: $649,963,763

Major parts of the animated Disney film about Rapunzel that took six years to produce were tossed out or rewritten, driving up production costs.

10. The Dark Knight Rises (2012)
> Production budget: $291,937,270
> Worldwide gross: $1,151,229,781

Production expenses for The “Dark Knight” sequel directed by Christopher Nolan were evenly divided between Legendary Pictures and Warner Bros. The rising costs of the franchise reportedly caused tension between the two companies.

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9. John Carter (2012)
> Production budget: $291,937,270
> Worldwide gross: $300,194,423

“John Carter” is considered to be a costly flop in Hollywood circles. Director Andrew Stanton reportedly had to reshoot substantial portions of the Disney movie twice.

8. Spider-Man 3 (2007)
> Production budget: $299,329,633
> Worldwide gross: $1,038,210,016

The marketing costs for “Spider-Man 3” were substantial. The movie played on 4,252 screens in the U.S. alone, more than any previous Hollywood film up to that point.

7. Justice League (2017)
> Production budget: $300,000,000
> Worldwide gross: $655,953,446

The budget for “Justice League” soared to more than $300 million because of reshoots, according to Forbes, with another $150 million spent on marketing.

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6. Spectre (2015)
> Production budget: $308,702,880
> Worldwide gross: $905,138,374

“Spectre” is the most expensive James Bond movie ever made, with marketing and promotion costs of as much as $100 million. Other items that drove up production cost were Bond’s Tom Ford wardrobe, Bond’s Omega watches, and Bond’s Aston Martin DB10 prototype car that is worth $4.6 million.

5. Star Wars Ep. VII: The Force Awakens (2015)
> Production budget: $314,876,938
> Worldwide gross: $2,118,383,192

About $40 million in production budget went to paying stars Harrison Ford, Mark Hamill, and Carrie Fisher.

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4. Avengers: Age of Ultron (2015)
> Production budget: $340,190,574
> Worldwide gross: $1,449,070,584

Computer-generated imagery and shooting locations in five countries — Italy, South Korea, South Africa, Bangladesh, and England — helped drive up costs for this Marvel franchise.

3. Pirates of the Caribbean: At World’s End (2007)
> Production budget: $348,057,713
> Worldwide gross: $1,117,753,031

“Pirates of the Caribbean: At World’s End” was the costliest movie ever made when it was released in 2007 because of rising location, special effects, and star costs.

2. Pirates of the Caribbean: On Stranger Tides (2011)
> Production budget: $444,142,183
> Worldwide gross: $1,131,084,842

One of the biggest costs of making this fourth film in the Pirates of the Caribbean franchise was paying for staff and actors. Star Johnny Depp is believed to have received $55 million.

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1. Avatar (2009)
> Production budget: $478,792,250
> Worldwide gross: $3,136,279,608

Avatar is the most expensive movie ever made, with $150 million spent on marketing and promotion alone. The biggest expenses were new film-making techniques and graphics as well as the creation of a new language that involved hiring a linguist.

Methodology:

In order to determine the 50 most expensive movies of all time, 24/7 Wall St. examined the 5,000 largest production budgets of all time as reported by movie industry data website, The Numbers. We then adjusted these budgets for inflation using the personal consumption expenditures 2017 price index. Figures for worldwide gross also come from The Numbers and are adjusted for inflation.

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