- A range of highly expensive to low-budget films have won the best picture Oscar throughout its history.
- Based on budget data from IMDB Pro, and then adjusted for inflation, we ranked the last 43 best picture winners based on their budget, from lowest to highest.
There is no special formula to win the best picture Oscar – at least when it comes to money.
Films that range from low-budget indie flicks (“Moonlight,” “The Artist”) to high-budget blockbusters (“Titanic,” “The Lord of the Rings: Return of the King”) have won the Oscar for best picture throughout history.
And that’s reflected in this year’s nominees as well – from Christopher Nolan’s $US100 million war epic, “Dunkirk,” to Luca Guadagnino’s $US4 million 1980s romantic drama “Call Me by Your Name.”
Based on budget data from IMDB Pro, and then adjusted for inflation using an inflation calculator, we’ve ranked the last 43 best picture winners from lowest budget to highest budget.
43. “Moonlight” (2016)
Initial budget: $US4 million
Adjusted for inflation: $US4.13 million
42. “Rocky” (1976)
Initial budget: $US960,000
Adjusted for inflation: $US4.18 million
41. “Crash” (2005)
Initial budget: $US6.5 million
Adjusted for inflation: $US8.2 million
40. “Platoon” (1986)
Initial budget: $US6 million
Adjusted for inflation: $US13.5 million
39. “Driving Miss Daisy” (1989)
Initial budget: $US7.5 million
Adjusted for inflation: $US14.991 million
38. “Chariots of Fire” (1981)
Initial budget: $US7.5 million
Adjusted for inflation: $US14.997 million
37. “Annie Hall” (1977)
Initial budget: $US4 million
Adjusted for inflation: $US16.36 million
36. “The Artist” (2011)
Initial budget: $US15 million
Adjusted for inflation: $US16.5 million
35. “The King’s Speech” (2010)
Initial budget: $US15 million
Adjusted for inflation: $US17.05 million
34. “Slumdog Millionaire” (2008)
Initial budget: $US15 million
Adjusted for inflation: $US17.26 million
33. “The Hurt Locker” (2009)
Initial budget: $US15 million
Adjusted for inflation: $US17.3 million
32. “Ordinary People” (1980)
Initial budget: $US6 million
Adjusted for inflation: $US18.04 million
31. “Birdman or (The Unexpected Virtue of Ignorance)”
Initial budget: $US18 million
Adjusted for inflation: $US18.84 million
30. “Terms of Endearment” (1983)
Initial budget: $US8 million
Adjusted for inflation: $US19.9 million
29. “One Flew Over the Cuckoo’s Nest” (1975)
Initial budget: $US4.4 million
Adjusted for inflation: $US20.27 million
28. “Spotlight” (2015)
Initial budget: $US20 million
Adjusted for inflation: $US20.91 million
27. “12 Years a Slave” (2013)
Initial budget: $US20 million
Adjusted for inflation: $US21.28 million
26. “American Beauty” (1999)
Initial budget: $US15 million
Adjusted for inflation: $US22.3 million
25. “Unforgiven” (1992)
Initial budget: $US14 million
Adjusted for inflation: $US24.73 million
24. “Kramer vs. Kramer” (1979)
Initial budget: $US8 million
Adjusted for inflation: $US27.31 million
23. “No Country for Old Men” (2007)
Initial budget: $US25 million
Adjusted for inflation: $US29.88 million
22. “The Silence of the Lambs” (1991)
Initial budget: $US19 million
Adjusted for inflation: $US34.57 million
21. “Schindler’s List” (1993)
Initial budget: $US22 million
Adjusted for inflation: $US37.73 million
20. “Shakespeare in Love” (1999)
Initial budget: $US25 million
Adjusted for inflation: $US38.01 million
19. “Million Dollar Baby” (2004)
Initial budget: $US30 million
Adjusted for inflation: $US39.36 million
18. “Dances with Wolves” (1990)
Initial budget: $US22 million
Adjusted for inflation: $US41.72 million
17. “The English Patient” (1996)
Initial budget: $US27 million
Adjusted for inflation: $US42.65 million
16. “Amadeus” (1984)
Initial budget: $US18 million
Adjusted for inflation: $US42.94 million
15. “Argo” (2012)
Initial budget: $US44 million
Adjusted for inflation: $US47.5 million
14. “The Last Emperor” (1987)
Initial budget: $US23 million
Adjusted for inflation: $US50.18 million
13. “Rain Man” (1988)
Initial budget: $US25 million
Adjusted for inflation: $US52.38 million
12. “Gandhi” (1982)
Initial budget: $US22 million
Adjusted for inflation: $US56.5 million
11. “The Deer Hunter” (1978)
Initial budget: $US15 million
Adjusted for inflation: $US57.02 million
10. “Chicago” (2002)
Initial budget: $US45 million
Adjusted for inflation: $US62 million
9. “The Godfather Part II” (1974)
Initial budget: $US13 million
Adjusted for inflation: $US65.36 million
8. “Out of Africa” (1985)
Initial budget: $US31 million
Adjusted for inflation: $US71.41 million
7. “A Beautiful Mind” (2001)
Initial budget: $US58 million
Adjusted for inflation: $US81.22 million
6. “Forrest Gump” (1994)
Initial budget: $US55 million
Adjusted for inflation: $US91.98 million
5. “The Departed” (2006)
Initial budget: $US90 million
Adjusted for inflation: $US110 million
4. “Braveheart” (1995)
Initial budget: $US72 million
Adjusted for inflation: $US117 million
3. “The Lord of the Rings: The Return of the King” (2003)
Initial budget: $US94 million
Adjusted for inflation: $US126 million
2. “Gladiator” (2000)
Initial budget: $US103 million
Adjusted for inflation: $US148 million
1. “Titanic” (1997)
Initial budget: $US200 million
Adjusted for inflation: $US308 million
Business Insider Emails & Alerts
Site highlights each day to your inbox.
Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.