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

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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.

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A still from Forrest Gump starring Tom Hanks
A still from Forrest Gump starring Tom Hanks

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

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

Forrest Gump is among Tom Hanks' most prized movies of all time
Forrest Gump is among Tom Hanks’ most prized movies of all time

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. 

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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

Forrest Gump has won several Oscars and Academy Award nominations
Forrest Gump has won several Oscars and Academy Award nominations

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.

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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.

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Source: The Little Facts

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Written by Mahin Sultan

Articles Published: 1291

Mahin Sultan is a News Content Writer at FandomWire. With more than a year's worth of experience in her field, she has explored and attained a deep understanding of numerous topics in various niches, mostly entertainment.

An all-things-good enthusiast, Mahin is currently pursuing her Bachelor's degree in Commerce, and her love for entertainment has given her a solid foundation of reporting in the same field. Besides being a foodie, she loves to write and spends her free time either with her nose buried in a good book or binging on COD or K-dramas, anime, new movies, and TV serials (the awesome ones, obviously).

So far, Mahin's professional portfolio has 1,000+ articles written on various niches, including Entertainment, Health and wellbeing, and Fashion and trends, among others.