A24’s live-action Elden Ring movie has a budget of nearly $200 million, according to a Wall Street Journal report that cites unnamed sources. If the figure is right, Alex Garland’s adaptation is by far the most expensive film A24 has ever made, at close to three times its previous record. A24 has not confirmed the number publicly.
The budget appears in a wider WSJ feature about A24’s rise as a studio. IGN and Insider Gaming both reported the figure on October 24, citing the Journal.
The Erdtree towers over the Lands Between in the 2022 game Garland is adapting. Image: FromSoftware / Bandai Namco Entertainment
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How the reported Elden Ring budget compares
A24 built its name on smaller films, so the reported number is a big jump. These are the figures that have been reported for the studio’s biggest productions. None of them come from A24 itself.
| Film | Reported budget | Reported by |
|---|---|---|
| Elden Ring (2028) | Nearly $200 million | The Wall Street Journal, Oct 2026 |
| Elden Ring (earlier estimate) | “Well over $100 million” | The Hollywood Reporter, Apr 2026 |
| Marty Supreme (2025) | About $70 million | Deadline |
| Civil War (2024) | About $50 million | Variety |
The new figure is a clear step up from what was reported in April. When cameras started rolling in the UK, The Hollywood Reporter said sources put the budget at “well over $100 million,” with around 100 days of principal photography planned. The reports don’t explain the gap. The April number may have been a floor, costs may have grown during the shoot, or the two outlets may be counting different things. Studios rarely publish final budgets, so treat both numbers as estimates.
IGN points out that a budget near $200 million would put the film in the same range as franchise blockbusters such as Spider-Man: No Way Home.
Who is making the Elden Ring movie
Alex Garland, who wrote and directed Ex Machina and A24’s Civil War, wrote the script and is directing. A24 has set a theatrical release for March 3, 2028. IGN reports that filming wrapped in July. No official stills or trailer have been released yet.
The Hollywood Reporter reported this cast in April:
- Kit Connor, Ben Whishaw, Cailee Spaeny and Nick Offerman
- Tom Burke, Havana Rose Liu, Sonoya Mizuno and Jonathan Pryce
- Ruby Cruz, John Hodgkinson, Jefferson Hall, Emma Laird and Peter Serafinowicz
No character names have been announced.
Torrent, the spectral steed from Elden Ring. The film's characters haven't been revealed. Image: FromSoftware / Bandai Namco Entertainment
Why it matters for game adaptations
Elden Ring came out in February 2022. FromSoftware made it, Bandai Namco publishes it, and George R. R. Martin wrote its mythology. Bandai Namco says it has sold more than 30 million copies, and the game has driven a lot of the publisher’s recent growth. Its Shadow of the Erdtree expansion lifted profits sharply in 2024. A nearly $200 million film shows how far studios will now go on game adaptations. Recent box office has helped: the Street Fighter movie opened at No. 1 this month, and CD Projekt is building its own Cyberpunk film.
A budget this size also raises the bar. A film at that price usually needs a global hit to break even once marketing is added. That is a new kind of bet for a studio known for keeping costs down.
What’s next
A24 hasn’t released any footage, and the first teaser is likely still a long way off given the March 2028 date. We’ll update this story if A24 or Bandai Namco comment on the budget, or when the first official images arrive.
Sources: The Wall Street Journal (via IGN and Insider Gaming), The Hollywood Reporter, Deadline, Variety.
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Featured image: FromSoftware / Bandai Namco Entertainment
