Whenever the subject of box office bombs comes up, the one film mentioned nearly every time is the flop Waterworld, which cost a whopping $235 million to make in 1997. The cable network Syfy is currently seeking to remake the Kevin Costner adventure for a theatrical remake.
The network has long been trying to branch out into the theatrical world, forming Syfy Films back in 2010. Both Syfy and their parent company NBCUniversal began pumping money into a joint development fund. According to network president Dave Howe, the network is, "actively developing scripts."
It isn't known if there is a writer attached to this proposed remake, but Dave Howe believes there is an audience for it. The network's last airing of Waterworld on Syfy attracted a healthy 400,000 viewers. Dave Howe also revealed that a TV series inspired by the original movie is also a possibility.
Kevin Reynolds directed Waterworld, which was set in a future where the Earth was completely covered in water, with humans living in floating cities across the globe. The film earned just $88 million domestically.