How IT'S A WONDERFUL LIFE Went From Box Office Flop to Festive Hit.
It's a Wonderful life, has become essential viewing during the festive period yet the film was considered to be a failure at the box office when released in 1946. So how did it turn from flop to hit?
All George Bailey ever wanted was to leave the small town of Bedford Falls. He wanted to explore the world. A man with dreams and ambitions that went far beyond what his childhood hometown could give him. For George, staying meant that he had failed to live up to his true potential. However, no matter how hard he tried, Bedford Falls and what happened within the town’s boundaries made sure that he would never fulfill his dreams. As the owner of the town’s Saving and Loan following his father’s death, he had worked hard to prevent Mr Potter, the movie’s main antagonist, from taking over Bedford Falls. That is until an error in his book-keeping was found by the taxman. This incident sees George Bailey considering taking his own life so his family could get his life insurance money. Clarence, Bailey’s Guardian Angel, is sent from heaven to prevent this. Desperate for a promotion to finally get his wings, Clarence flings himself off a bridge knowing that George would save him and thus, prevent his suicide. Trying his best to convince George that his life has meaning, Clarence shows him what the world would have been like if he had never been born.
From nowhere, the ear that George could not hear from now heals. He had lost his hearing in his right ear after saving his brother from a frozen lake. His brother, Harry, would go on to become a Navy pilot in World War II shooting down fifteen bombing planes for trying to kill men on a transport, saving all those men's lives. Clarence grants George his wish of never being born; he soon learns that everyone's life in Bedford Falls is completely turned around.
His wife, Mary, is now a spinster librarian who has no idea who he is when he confronts her. His mother has converted her home into a bed and breakfast to make ends meet. His friends have no idea who he is and worst of all he was never there to save his brother who drowned in the lake. In doing so he would not be there to save all those men's lives in World War II. The Town of Bedford Falls has even been taken over by Mr Potter who has turned the town into a seedy town of inequity. Clarence tells George that: “You’ve been given a great gift, George, a chance to see what the world would be like without you.” In doing so George wishes that things would go back to normal. Returning home in a joyous mood despite the prospect of jail. Yet the town of Bedford Falls loves George Bailey with so many thankful to him that they collect enough money to spare him the wrath of the IRS.
The film today is a modern classic and is considered to be essential viewing, particularly around the holidays. However, it was not always this way. It's a Wonderful Life was very nearly consigned to a similar fate of many other movies. It could have been yet another forgotten movie from years gone by had it not been for a simple error.
It’s a Wonderful Life was a box office flop when it was released in 1946 failing to recoup its budget of $2.3 million. Despite a strong opening weekend and five Academy Award nominations (including Best Picture), audiences largely steered clear of this now classic festive movie. It would go on to bankrupt Liberty Films with It’s a Wonderful Life being the only movie released under its name. For director and producer Frank Capra, it would also be a personal disaster. Reflecting in his autobiography Capra stated that It’s a Wonderful Life: “virtually prove fatal to my professional career." So how did this failure of a movie that caused a studio to declare bankruptcy go on to become a festive classic? After all, there was no real desire to re-release it.
The answer comes in the strangest of circumstances with a term that many might not have previously thought about. That term being "Copyright". The 1909 Copyright Act meant that creative work such as movies were protected for 28 years, however, once this time had passed, it would be up to the studio to reapply the copyright. With Liberty Films folding soon after It’s A Wonderful Life it would be up to Republic Pictures to renew the copyright. They never did. Whether or not this was intended or perhaps a simple clerical issue, we will never know for certain but It’s a Wonderful Life moved into the Public Domain meaning that in 1974, anyone could now show the movie for free. It wouldn’t take long for television schedulers to spot Republic Pictures' error.
Desperate for cheap content to fill Christmas Schedules, It’s a Wonderful Life proved to be a godsend. For the movie itself, it would go from just another forgotten 1940s film to become a classic. The 1970’s audiences fell in love with the movie. Every year, they would tune in, and later, with the rise of VHS, they would record the movie from their television sets to keep hold of in case they missed it one year. The movie would go on to be passed down the generations just like many of our other Christmas traditions. Soon It’s a Wonderful Life would be just as essential as Turkey and wrapped presents under a decorated Christmas Tree.