Synopsis

On November 4, 1979, as the Iranian revolution reaches its boiling point, militants storm the U.S. embassy in Tehran, taking 52 Americans hostage. But, in the midst of the chaos, six Americans manage to slip away and find refuge in the home of the Canadian ambassador. Knowing it is only a matter of time before the six are found out and likely killed, a CIA “exfiltration” specialist named Tony Mendez comes up with a risky plan to get them safely out of the country. A plan so incredible, it could only happen in the movies.

What is the budget of Argo?

"Argo," a drama released in 2012, was directed by Ben Affleck and stars Ben Affleck, Bryan Cranston. The production budget was $44,500,000, placing it in the mid-budget range for drama productions of its era.

Key Budget Allocation Categories

While specific budget breakdowns are not publicly available, typical cost drivers for a drama production like this include:

Above-the-Line Talent: Drama films live or die on the strength of their performances.
Location Filming & Period Production Design: Authentic locations , whether contemporary or historical , require scouting, permits, travel, lodging, and often significant dressing to match the story's time period.
Post-Production, Color Grading & Score: The editorial process for dramas is typically longer than genre films, with careful attention to pacing and tone.
Development: Argo is based on the "Canadian Caper" that took place during the Iran hostage crisis in 1979 and 1980.

What were the major cost factors in Argo?

Several factors contributed to the overall production costs of "Argo."

Above-the-Line Talent: Above-the-Line Talent is one of the primary cost drivers in drama productions of this scale.
Location Filming: Location Filming & Period Production Design is one of the primary cost drivers in drama productions of this scale.
Post-Production: Post-Production, Color Grading & Score is one of the primary cost drivers in drama productions of this scale.

How Does Argo's Budget Compare to Similar Films?

At $44,500,000, Argo sits in the mid-budget range. Here is how it compares to productions with a similar budget:

65 (2023): Budget $45,000,000, Worldwide Gross $60,730,568
Across the Universe (2007): Budget $45,000,000, Worldwide Gross $29,625,761
Aliens in the Attic (2009): Budget $45,000,000, Worldwide Gross $57,881,056
28 Days (2000): Budget $43,000,000, Worldwide Gross $62,198,945
A Monster Calls (2016): Budget $43,000,000, Worldwide Gross $47,309,313

The median budget for wide-release drama films in the 2010s ranges from $30 to 80M for mid-budget to $150M+ for tentpoles.

Argo Box Office Performance

"Argo" earned $136,025,503 domestically and $232,300,000 worldwide at the box office. Against a production budget of $44,500,000, the film performed strongly at the box office.

A film typically needs to earn approximately twice its production budget to cover marketing and distribution costs. For "Argo," that break-even threshold was roughly $89,000,000. With worldwide earnings of $232,300,000, the film cleared that threshold comfortably.

Production Budget: $44,500,000
Worldwide Gross: $232,300,000
Net Return: $187,800,000
ROI: approximately 422%

At 422%, "Argo" earned roughly $5.22 for every $1 invested in production.

Argo Production History

Argo is based on the "Canadian Caper" that took place during the Iran hostage crisis in 1979 and 1980. Chris Terrio wrote the screenplay based on Joshuah Bearman's 2007 article "How the CIA Used a Fake Sci-Fi Flick to Rescue Americans from Tehran," which was published in Wired. Affleck mentioned the influences for the film, which include Costa-Gavras's work, All the President's Men, The Killing of a Chinese Bookie, and The Battle of Algiers which served as references.

After the rest of the roles were cast, filming began in Los Angeles in August 2011. Additional filming took place in McLean, Virginia; Washington, D.C.; and Istanbul. The scene in which Mendez drives up to and walks into the CIA headquarters lobby was filmed with permission at the CIA's original headquarters building in Virginia; all other scenes set at the CIA were filmed in the basement of the Los Angeles Times Building.

Awards and Recognition

Won 3 Oscars. 96 wins & 156 nominations total

BAFTA Award for Best Film: Ben Affleck
Dorian Award for Film of the Year
Academy Award for Best Picture: George Clooney (85th Academy Awards)
Academy Award for Best Picture: Ben Affleck (85th Academy Awards)
Academy Award for Best Picture: Grant Heslov (85th Academy Awards)
Academy Award for Best Film Editing: William Goldenberg (85th Academy Awards)
National Board of Review: Top Ten Films
César Award for Best Foreign Film