Kevin Reynolds' 1995 film Waterworld was, at the time of its release, the most expensive movie ever made. Thanks to a slew of production problems (not least of which was a floating set that persistently sank) the movie's budget ballooned, ultimately costing Universal Pictures about $172 million.

The 1995 film Waterworld became the most expensive movie ever made at the time primarily because of the logistical nightmare of filming on the open ocean. The production built a massive, 1,000-ton floating set off the coast of Hawaii, which had no on-board bathrooms or proper facilities, requiring cast and crew to be ferried back and forth constantly. Disaster struck when a hurricane destroyed the multi-million dollar set, forcing a complete rebuild and causing massive delays. Additionally, filming on water is notoriously slow because the horizon is always shifting, and the salty environment constantly damaged expensive camera equipment and pyrotechnics. The budget spiraled from an initial $100 million to an unheard-of $175 million. Star Kevin Costner even put $20 million of his own money into the project to keep it afloat. While it was initially labeled a "box office bomb," international sales and home video eventually turned it into a profitable venture over several decades.