It’s no secret that movies can be darn expensive to produce. And in an age where the average cost of a film now exceeds $100 million, it’s worthwhile to remember that the bigger the budget does not necessarily mean the bigger the profits.
It’s refreshing to see that quite a few independently produced movies made on a shoestring budget still managed to be massive blockbusters. These types of movies are indubitably the darlings of any movie studio because they’ve found the exact balance between a low budget, exciting material, and an enormous return on investment.
Back in the day when all movies were shot primarily on film, buying and developing stock was a nightmare for any independent filmmaker. But thanks to advances in digital videography, the allocation of the budget on any film project have changed dramatically.
Bad Moms, a 2016 comedy about three overworked and under-appreciated mums being pushed beyond their limits, is such an example. Made on a modest budget of “only” $20 million, the romper starring Mila Kunis, Kirstin Bell and Kathryn Hahn, surprised everyone when it raked in almost $200 million at the global box office.
We take a look at some of the most profitable indies of the last few years, noticing that some genres clearly provide more bang for their buck (here’s looking at you, horror). Note that this list is not looking at cheaply produced studio films like the extremely profitable The Conjuring or the tear-jerker Me Before You. Rather the focus is on independently produced films outside of the major Hollywood studio system.
Lost in Translation (2003)
Grossed $120 million on a $4 million budget
This critically acclaimed comedy-drama from director Sofia Coppola surprised audiences with the usually comedic Bill Murray’s subdued performance as an ageing movie star who crosses paths with a neglected young wife (Scarlett Johansson) in Tokyo. With four Academy Award nominations and a win for its original screenplay, many people still consider Lost in Translation to be Scarlett’s official entry into Hollywood, securing her position as one of the industry’s most profitable stars. This gem was produced by American Zoetrope, an independent production company founded by Sofia’s father, famed director Francis Coppola, in 1969.
Juno (2007)
Grossed $231 million on a $7,5 million budget
With its sly wit and non-judgemental demeanour, Juno enthralled audiences back in 2007 with its heart-warming (and hilarious) story of Juno MacGuff, a sixteen-year-old high schooler who accidentally falls pregnant. Ellen Page’s excellent portrayal as Juno was matched by veteran actor JK Simmons who played her father, Mac. Diablo Cody won a well-deserved Oscar for her debut script. The independently produced comedy famously earned back its entire budget just 20 days after release.
Fahrenheit 9/11 (2004)
Grossed $222 million on a $6 million budget
Easily the most controversial film on this list, Fahrenheit 9/11 also still holds the record as the most profitable documentary of all time. Upon its release in 2004, Michael Moore’s damning look at the various inefficiencies of the George W. Bush administration made headlines worldwide, raking in a massive amount of profits for the documentary filmmaker along the way. Unfortunately for Michael, he hasn’t been able to come even close to matching Fahrenheit’s success in his subsequent films that largely went unnoticed by both audiences and critics.
Open Water (2003)
Grossed $55 million on a $500,000 budget
Back in 2003, the independently produced Open Water made audience’s nightmares come true while the producers smiled all the way to the bank. The (reportedly true) story concerns an American couple who go scuba diving while on holiday in the Caribbean, only to find themselves stranded in the middle of the ocean in shark-infested waters when the crew of their boat accidentally leaves them behind. Like many other “found footage” films on this list, Open Water was produced cheaply, resulting in a massive return on investment for the filmmakers.
The Blair Witch Project (1999)
Grossed $248 million on a $60,000 budget
The father of all found footage films, The Blair Witch Project still stands as one of the most profitable movies of all time. The movie, which tells the story of three students that goes missing in the Black Hills in Maryland, was one of the first movies to go viral by virtue of word of mouth. Many moviegoers believed the footage “discovered a year after the hikers disappeared” was real and that they had been taken by the local legend known as the Blair Witch. The horror spawned two sequels, Book of Shadows (2000) and Blair Witch (2016) as well as various novels and comic books.
My Big Fat Greet Wedding (2002)
Grossed $369 million on a $6 million budget
For a movie starring completely unknown actors (at the time), My Big Fat Greek Wedding was truly a massive box office success. Independently produced by Tom Hanks and his wife, Rita Wilson, through their company Playtone, it’s been said that the romantic comedy literally had no budget for advertising. Instead, it relied heavily on emails and good old-fashioned word of mouth. It held the record as the highest-grossing film never to reach the number one position on the weekly North American box office charts until Sing was released in 2016. A poorly reviewed sequel that reunites most of the original cast, was released the same year.
Slumdog Millionaire (2009)
Grossed $378 million on a $15 million budget
Danny Boyle’s eclectic adaptation of Vikas Swarup’s novel certainly turned a few producers into millionaires after it grossed almost $380 million at the global box office. At the time Danny was well-known for his gritty drug drama Trainspotting and the zombie horror 28 Days. But it would take the uplifting story about a teen who wins the Indian version of Who Wants to be a Millionaire despite growing up in the slums to turn him into box office gold. Slumdog Millionaire was met with rave critical acclaim and went on to take home best picture, best director, and best adapted screenplay at the 2009 Academy Awards.
The King’s Speech (2010)
Grossed $414 million on a $15 million budget
As a historical drama, The King’s Speech fairly accurately portrays the life of Queen Elizabeth’s father, King George VI, who suffered from a debilitating stammer. When he ascends to the throne due to circumstances beyond his control, his speech therapist, brilliantly played by Geoffrey Rush, comes to his rescue. Critics applauded Colin Firth’s performance as the reluctant king, a role that finally earned him the Academy Award for best actor. The film earned a massive amount of money in its native Great Britain, topping the UK box office for four consecutive weeks.
Passion of the Christ (2004)
Grossed $612 million on a $30 million budget
Fully financed by the director himself, Passion of the Christ was a massive gamble Mel Gibson was clearly willing to take. At the time of its release in February 2004, the actor didn’t even have a distributor in place for his most controversial movie to date. Despite the film’s excessive violence and alleged antisemitic tone, it raked in millions of dollars worldwide, becoming the highest-grossing R-rated movie in American history. Mel has since confirmed that a sequel is in the works and that it would probably take place in the three days between Jesus’ crucifixion and his resurrection.
Paranormal Activity (2007)
Grossed $193 million on a $15,000 budget
In a lot of ways, the first Paranormal Activity was a spiritual successor to The Blair Witch Project, taking the same concept of footage found mysteriously and fooling millions of people into thinking it was real. First-time director Oren Peli shot the original version of the supernatural horror over a week at his own house. After screening it at festivals, Paramount Pictures bought the rights and asked for a few changes, specifically to the now famous ending. But it was mostly still Oren’s vision that spooked audience members to a worldwide gross of $193 million. The film spawned five sequels with a combined worldwide box office total of $890 million, making the series one of the most profitable returns on investment for any filmmaker ever.
