As the first movie to feature Technicolor, The Wizard of Oz is a defining piece of cinematic history. However, the movie was initially a massive flop upon release and is widely reported to have grossed just $3 million (around £675k) against a budget of $2.7 million (around £610k). When additional promotional costs are factored in, it resulted in a painful loss for production studio MGM.

Several factors contributed to the failure. Like Bambi, the film was released during World War II, which impacted its global box office performance. It also faced stiff box office competition from films such as Gone with the Wind and received a mixed critical reception at the time.

Despite its shaky start, the musical eventually grew on audiences and became an iconic part of pop culture, inspiring numerous spin-offs over the decades. The most recent is the 2024 musical adaptation Wicked. Re-releases have bolstered The Wizard of Oz's lifetime gross to a respectable $25.6 million (£20.4m).

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