merchandising and franchising and is arguably the first time a movie truly
became a brand.
Before 1977, no one in the industry expected that film merchandise would
be as lucrative as it would eventually become. To reinforce the collective
obliviousness of the film industry, 20
th
Century Fox offered Lucas $100,000 and
forty-percent of the profits, expecting heavy negotiations to follow as those
numbers were relatively low. However, Lucas agreed to the terms but on the
condition that he keep sole ownership of the merchandising, licensing, and
franchising rights for the film and its potential sequels. (Shone, 66) Fox eagerly
obliged, and in the end, the difference would number in the billions. (Block, 2012)
Filmed for just $11 million (not adjusted for inflation), the success of
Star
Wars
was unexpected. On May, 25, 1977, the film was released in just 43 theaters,
but because of the earlier marketing efforts,
Star Wars
had quickly created a
passionate fan base that spread positive word of mouth and saw the film multiple
times. Demand was so great that 20
th
Century Fox was forced to quickly broaden
the release.
In a mere three months following its release, the film was already playing
in over 3,000 theaters and had already surpassed $100 million at the domestic box
office. By the end of the year, the film had grossed almost $194 million. (Shone,
65) Ultimately,
Star Wars
overcame
Jaws
’ two-year reign to become the highest
grossing film of all time for a number of years. At the end of its initial box office
run, the film had earned over $307 million domestically.
While the box office receipts were very impressive, the film merchandise
further cemented its status as a cultural phenomenon and blockbuster
powerhouse. Featuring a diverse and memorable cast of characters that included
humans Luke Skywalker, Princess Leia, and Han Solo, aliens Master Yoda,