30 Years Ago, One of the Most Expensive Movies Ever Flopped at the Box Office

by

In 1995, numerous films that are now highly acclaimed graced the screens. For instance, “Toy Story,” the world’s first fully computer-animated feature, premiered in theaters over Thanksgiving. That summer saw the success of the cult favorite blockbuster “Batman Forever” and the Oscar-loved film “Apollo 13.” The summer smash also included “GoldenEye,” which rejuvenated the James Bond franchise for a new generation. All in all, it was a splendid year for films, but there was also a major box office bomb that would cause significant waves in the international film industry.

Interestingly, despite its high production cost comparable to Kevin Costner’s notorious ‘Waterworld’, it only managed to rank as the 12th highest-grossing film domestically in 1995. Surprisingly, even surpassing box office hits like ‘Braveheart’, ‘Get Shorty’, and ‘The Bridges of Madison County’ wasn’t enough to make a profit.

What Went Wrong With Waterworld?

As a movie enthusiast, I’d say it’s quite clear why Waterworld faltered – filming either on the ocean or in massive water tanks isn’t a smart move for big-budget productions. This approach often leads to more complications than benefits. For instance, some of the costliest films ever made, like the third and fourth Pirates of the Caribbean movies and Avatar: The Way of Water, faced significant financial burdens due to their sea-centric stories. Unless you’re as successful as James Cameron at the box office, making a profit with a water-bound blockbuster is nearly impossible.

In 1995, the film “Waterworld” represented another instance of escalating production costs, as it carried an astounding price tag of $175 million. This would be equivalent to today’s catering expenses for a movie like “Avengers: Doomsday,” but at that time, it was unparalleled in film history. To provide some context, the previous year saw the release of “True Lies,” which set a new standard with its budget exceeding $100 million (though officially reported as $100 million). When accounting for inflation, “Waterworld”‘s cost amounts to approximately $355 million, surpassing the budgets of recent blockbusters like “Avatar: The Way of Water” and “Mission: Impossible – The Final Reckoning.

How did the budget for Waterworld skyrocket to such an extent? Filming in natural environments or gigantic water tanks made Waterworld vulnerable to the whims of nature. This vulnerability led to expensive set pieces and a multitude of extras being frequently postponed and endangered by unpredictable weather conditions. The production went over schedule due to comedic delays, and disputes between Costner and director Kevin Reynolds only added to the financial strain. It was an infamous production that steered Waterworld towards budgetary depths unprecedented for major blockbusters at the time.

The Long-Lasting Consequences of Waterworld

If Waterworld had been produced at a more affordable cost, like True Lies, its $264.2-million global earnings might have made it profitable. But with a production cost of $175-million, these earnings were far from enough. As a result, Waterworld became one of the biggest box office bombs of the ’90s. Consequently, similar plotlines and tones in future projects were avoided by Hollywood.

For Kevin Costner, the role marked the beginning of a long-lasting slump at the box office, with significant financial losses not being recovered for years to come. The 1997 release The Postman, with an $80 million production budget and global earnings of only $30 million, furthered the pattern set by Waterworld where Costner was associated with expensive productions that both critics and audiences turned away from. Notoriously, Horizon: An American Saga – Chapter One bombed during its June 2024 theatrical release. This Western movie, costly in its own right, put at risk not only itself but also the planned sequels. It was another expensive failure that Costner found himself at the heart of.

Despite not earning leading roles in films as extravagant as Waterworld again, this 1995 production served as a precursor to the costly flops that characterized Kevin Costner’s career after 1994. Moreover, it indicated the end of his string of successive hits, such as Robin Hood: Prince of Thieves, JFK, and The Bodyguard. In essence, Waterworld marked a turning point in Costner’s career, but unfortunately not one for the better. On top of that, Waterworld’s failure made it clear that Hollywood would avoid water-based movies for some time to come.

I remember back in 2003, when many thought “Pirates of the Caribbean: The Curse of the Black Pearl” was destined to bomb at the box office before it even hit the screens. Unlike some big-budget films starring Costner that had been disappointments, this one managed to turn things around and became a success with “Black Pearl” and later “The Way of Water”. Interestingly enough, the initial flop from 1995 even led to a Universal theme park stunt show that continues to captivate audiences today.

Waterworld is now streaming on Peacock.

https://comicbook.com/movies/news/michael-bay-the-island-flop-box-office-retrospective-ewan-mcgregor-scarlett-johansson/embed/#

Read More

2025-07-27 21:10