<P> Due to the secretive nature of Hollywood accounting it is not clear which film is the most expensive film ever made . Pirates of the Caribbean: On Stranger Tides officially holds the record with a budget of $378.5 million, while The Hobbit trilogy stands as the most expensive back - to - back film production with combined costs of $623 million after tax credits . </P> <P> Inflation, filming techniques and external market forces have impacted the economics of film production . Costs rose steadily during the silent era with Ben - Hur (1925) setting a record that lasted well into the sound era . Television had a direct impact on rising costs in the 1950s and early 1960s as cinema competed with it for audiences, culminating in 1963 with Cleopatra; despite being the highest earning film of the year, Cleopatra did not earn back its costs on its original release . The 1990s saw two thresholds crossed, with True Lies costing $100 million in 1994 and Titanic costing $200 million in 1997, both directed by James Cameron . Since then it has become normal for a tent - pole feature from a major film studio to cost over $100 million, and an increasing number of films are costing $200 million or more . </P>

Which is the highest budget film in the world