A24 built its name on small films shot cheaply, the kind that win Oscars and then sit in a cult following. Now the studio is making one that, by the Wall Street Journal’s account, costs around $200 million.
That figure, which the paper’s sources say is not yet final, is for Elden Ring, an adaptation of the FromSoftware role-playing game. It would be the most expensive film A24 has ever made. The previous record belonged to Marty Supreme, released in 2025 at roughly $70 million. Elden Ring comes in at nearly three times that.
What is on screen and who is making it
Alex Garland directs. A24 produces with Bandai Namco Filmworks. The project was first announced in production in May 2025, and filming wrapped in July 2026, though the studio’s work is far from done. The cast includes Emma Laird, Tom Burke, Jonathan Pryce, Kit Connor, Cailee Spaeny and Nick Offerman. No plot details are out. The release is planned for May 2028. The game’s world and backstory owe much to George R.R. Martin, who wrote many aspects of it.
From arthouse to big IP
A24 was founded in 2012 by Daniel Katz, David Fenkel and John Hodges. It earned its reputation with Ex Machina, The Witch, Hereditary and Moonlight, which took three Oscars and Best Picture, then Everything Everywhere All at Once, its first film to reach $100 million at the box office. In 2026, Kane Parsons’ Backrooms became its first to pass $200 million.
The turn toward bigger bets was not sudden. In October 2023, TheWrap reported that the studio planned to widen its strategy from arthouse to more commercial films, including action and big IP projects. One production executive told the outlet that the auteur business is “a lousy, high-risk business” that does not attract buyers.
Abroad, the company is also selling well. Sony Pictures Worldwide Acquisitions has taken rights to You Can See Everything and Primetime in a long list of international markets, among them Germany, India, South Korea and the Middle East. Sony last worked with A24 on Materialists, which earned north of $70 million internationally.
Sources
- The 'Elden Ring' Movie Is A24’s Most Expensive Film With $200 Million Budget
- A24
- Sony Buys A24’s 'You Can See Everything' & 'Primetime' In Key Markets
Photo: Denise Jans / Unsplash (Unsplash License)
