I was wondering about those great art house films of the 60’s and 70’s. About how much they cost, how much they made, etc. Obviously, now that they’re classics they have some financial value in a library, but what I realized was that these films were the low budget films of their times. What’s changed is the gap between the lowest budget films and the highest budget films.
PANIC IN NEEDLE PARK, which cost a few million or more, was actually a studio movie. It managed to get made because it was so much cheaper than all the other movies at the studio – a story you hear all the time. But at the time, the bigger budget films were only about 8-10 million. This is staggering, not just because a high budget film now costs 200 million, but because a low budget film still costs 3 million.