In James P. Stewart’s book *Disney War*, there’s an intriguing anecdote about Disney’s then-CEO Michael Eisner being captivated by various pieces of concept art for *Pirates of the Caribbean: The Curse of the Black Pearl*. At the time, the project was struggling to get the green light, but the artwork showcased its undeniable potential. Despite this, Eisner reportedly hesitated, asking, “Why does it have to cost so much?” Producer Jerry Bruckheimer responded, “Your competition is spending $150 million.”
In the early 2000s, Warner Bros. and 20th Century Fox were outperforming Disney in the tentpole film domain. In response, Disney unleashed a wave of big-budget box office hits, including the *Pirates of the Caribbean* series, multiple Marvel Cinematic Universe (MCU) installments, and a slew of *Star Wars* outings. The era of penny-pinching was over at Disney.
### Disney’s Embrace of Big-Budget Blockbusters
Over the following decades, Disney ceased to hesitate when it came to investing big sums to bring blockbuster visions to life. This approach led to $250 million flops like *Tron: Ares* as well as highly anticipated blockbusters such as *Avatar: Fire and Ashes*. This radical embrace of costly productions is especially clear when examining the studio’s 12 most expensive films, many of which are part of the MCU’s Infinity Saga.
Before 2012’s *The Avengers*, Disney had minimal experience releasing live-action superhero films. However, between *The Avengers* and 2019’s *Avengers: Endgame*, the studio became a master at producing profitable superhero movies. Disney was so confident in its ability to succeed that it spent $356 million on *Avengers: Endgame* — an astonishing amount for a single movie.
The cost was driven by the challenge of uniting numerous MCU actors in one film, plus extensive reshoots from late 2018 to early 2019, including filming Robert Downey Jr.’s final line as Tony Stark/Iron Man. Additionally, completing thousands of visual effects shots in time for the April 2019 release was expensive. This extravagant budget was arguably justified, as *Endgame* grossed $2.72 billion worldwide, briefly holding the title of the biggest movie ever before *Avatar* reclaimed it.
### The Escalating Costs of MCU Films
Three years after the original *Avengers*, the sequel *Avengers: Age of Ultron* arrived, helmed by writer-director Joss Whedon. This film was more ambitious, with a globe-trotting scale, a larger ensemble cast, and a complex villain in the form of James Spader’s Ultron. At $365 million ($500 million adjusted for inflation), it was the most expensive solo *Avengers* film — even pricier than *Endgame*.
Despite its massive budget, *Age of Ultron* earned $1.4 billion worldwide, including $459 million domestically. While it was the lowest-grossing *Avengers* film both domestically and globally, it was still highly profitable and demonstrated to Disney that “bigger was better.”
### Marvel’s Expensive Challenges: *The Marvels*
Following the success of 2019’s *Captain Marvel*, a sequel seemed like a guaranteed hit. However, director Nia DaCosta’s *The Marvels* encountered numerous problems, driving its budget up to an eye-popping $378.5 million, or $325.3 million after UK tax credits. Unlike star-studded *Avengers* entries, *The Marvels* featured a lower-profile cast but experienced extensive reshoots stretching over four weeks. DaCosta revealed the film lacked a concrete script during production, which likely contributed to the costly reshoots.
Moreover, the film featured heavy CGI action sequences involving cosmic battles and tears in the space-time continuum, all of which are expensive to realize. The COVID-19 pandemic protocols further inflated the budget compared to *Captain Marvel*.
Despite this investment, *The Marvels* grossed just $206.13 million worldwide, including $84.5 million domestically, resulting in an estimated $237 million loss for Disney after marketing costs—making it a shocking box office flop.
### *Pirates of the Caribbean: On Stranger Tides*—The Most Expensive Movie at One Point
Initially, *Pirates of the Caribbean: On Stranger Tides*, the series’ fourth installment, was intended to reduce the franchise’s ballooning costs. However, filming on the open sea brought inevitable expensive challenges — as famously seen in classics like *Jaws*. The film’s 3D digital cinematography, especially on location, added to the production costs. Director Rob Marshall’s short post-production timeframe (22 weeks instead of the preferred 40) also increased expenses due to the need for simultaneous editing and shooting.
Ultimately, *On Stranger Tides* ended up costing $410.6 million ($378.5 million after tax credits), making it, at the time, the most expensive movie ever made. Compared to this, the $225 million budget for *Pirates of the Caribbean: Dead Man’s Chest* now seemed modest. Even so, the film grossed $1.04 billion worldwide, preventing it from being a total financial failure.
### Turbulence in *Doctor Strange in the Multiverse of Madness*
*Doctor Strange in the Multiverse of Madness* faced numerous hurdles, including the departure of original director Scott Derrickson in January 2020, ongoing creative struggles, COVID-19 related delays, and extended reshoots that continued weeks before its release. These complications contributed to the film’s enormous budget of $414.9 million ($350.6 million after tax breaks), comparable to the massive budgets seen in *Avengers* films.
COVID-19 safety protocols and an unsettled script further drove expenses. Despite the challenges, the movie grossed $952.22 million worldwide, allowing Disney to earn an estimated profit of $127.3 million—a welcome relief following its tumultuous production.
### The Rising Costs of Indiana Jones Films
When adjusted for inflation, the $20 million budget of 1981’s *Raiders of the Lost Ark* equals about $71.46 million today. Fast forward to 2008, *Indiana Jones and the Kingdom of the Crystal Skull* cost roughly $279 million adjusted for inflation.
By 2023, expenses had ballooned even further. *Indiana Jones and the Dial of Destiny* had a staggering budget of $419 million ($352.3 million after tax credits), exceeding the costs of several *Star Wars* movies. The high price tag was partly due to a lengthy prologue featuring a digitally de-aged Indiana Jones, along with the complexities of globe-trotting shoots during COVID-19. Harrison Ford’s $10+ million salary also added to the budget.
Despite the franchise’s historic global success, *Dial of Destiny* grossed only $384 million worldwide, marking it as another legacy sequel that underperformed at the box office.
### The *Star Wars* Saga: No Expense Spared
*Star Wars: The Force Awakens* was a pivotal moment for Disney, launching a new era of *Star Wars* films after acquiring Lucasfilm. The studio spared no expense, with a massive $533.2 million budget ($446.6 million after tax credits). This figure grew partly due to on-set injuries to Harrison Ford that halted production for two weeks, costing the studio to maintain sets and cast availability.
The film relied heavily on practical effects and real-world locations to echo the original trilogy’s spirit, which increased costs compared to more CGI-heavy productions. Bringing back the legacy cast also inflated the budget. Nevertheless, *The Force Awakens* became a monumental success, grossing $2.071 billion worldwide and achieving the biggest domestic box office ever at its time with $936 million.
Four years later, *Star Wars: The Rise of Skywalker* closed the Sequel Trilogy. Directed again by J.J. Abrams, the film underwent several rewrites and reshoots, including the removal of Matt Smith’s role. These changes pushed the budget to a historic $593.7 million ($489.9 million after tax credits), making it the most expensive film ever made.
While *The Rise of Skywalker* grossed $1.07 billion worldwide, it only made a little more than twice its budget—far less profitable than *The Force Awakens*, which earned 4.5 times its production costs globally.
### The End of Hesitation at Disney
The days when Disney executives hesitated over spending big on projects like *Pirates of the Caribbean: The Curse of the Black Pearl* are long gone. Their willingness to invest hundreds of millions into blockbuster productions is now standard practice, shaping the studio as a dominant force in high-stakes filmmaking. Despite occasional misfires, Disney’s strategy underscores a bold commitment to delivering cinematic spectacles that aim to captivate audiences worldwide.
https://www.looper.com/2011666/disney-most-expensive-movies/