Greedy Hollywood Accounting Made Tom Hanks’ Most Prized Movie Suffer $62M In Losses, Was Branded A “Successful Failure”

Forrest Gump is easily one of the few movies with a massive box office success. Critically acclaimed by fans and reviewers alike, the movie made even Tom Hanks’ quite renowned.

However, here’s a fun fact about the movie that fans probably didn’t know – that the superhit movie actually suffered a loss of $62M, despite earning $678M worldwide, with Hollywood accounting to blame. 

Also Read: Despite Working With Tom Hanks In Mystery TV Series, Tom Cruise Never Returned As Director While ‘Forrest Gump’ Star Directed $34M Cult-Classic

Tom Hanks’s Forrest Gump Won the Title of a ‘Successful Failure’

Also Read: Tom Hanks Hated Forrest Gump Director’s Genius Idea To Save Him From Exhaustion, Regretted After Winning His Second Oscar: “You can only have faith”

Released in 1994, Forrest Gump played a significant role in contributing to Tom Hanks‘ fame. Widely renowned for his role in the movie, the actor himself calls the film one of his ‘most prized’ movies of all time.

Made with a budget of $55M, the movie achieved a remarkable start during its initial week of release alone securing over $24M in the U.S. and Canada, with its sweet beginning not ending just there. However, even after its delightful opening and over $682M revenue grossed, the Oscar-winning movie still suffered a loss of $62M. 

The real explanation behind this loss was greedy Hollywood’s ignorant accounting practice which was known for inflating costs and other expenses in order to minimize profit sharing. Thus, due to this reason, Tom Hanks’s most prized movie Forrest Gump bagged the title of being a ‘successful failure’. 

Also Read: “That’s some intangible sh-t right there”: Tom Hanks Slammed Quentin Tarantino’s $213M Cult-Classic Film After Relentless Criticism Against Forrest Gump

Forrest Gump Bagged Several Titles and Oscars

Even though the movie Forrest Gump never made any real profits, however, it is still widely known for the several titles and Oscars the movie managed to bag.

The movie is said to have topped the ‘Top 3 Movies’ list in the U.S. five times during its first twelve weeks of release, along with closely beating The Lion King in its opening week. Forrest Gump made history by turning into Paramount’s biggest movie of all time, also bagging and keeping the title of Paramount’s highest-grossing film for nearly three years.

Apart from this, Forrest Gump succeeded in winning six Oscars, along with getting thirteen nominations for Academy Awards. And if that wasn’t enough, the movie also managed to be Tom Hanks’s highest-grossing movie till 2006, nearly 12 years after its release. No doubt it is among Hanks’s most prized films of all time!

You can stream Forrest Gump on Netflix.

Source: The Little Facts