Made on a production budget of $19.4 million, "Close Encounters" was released in a limited number of cities on November 16, 1977 and November 23, 1977 before expanding into wide release the following month. It was a critical and commercial success, grossing over $300 million worldwide. The movie received numerous awards and nominations at the 50th Academy Awards, 32nd British Academy Film Awards, the 35th Golden Globe Awards and the 5th Saturn Awards, and has been widely acclaimed at the American Film Institute.