Harrison explained: "The name of the company came about as a bit of a joke. I'd been to Wookey Hole in Somerset ... an old paper mill where they show you how to make old underpants into paper. So I bought a few rolls, and they had this watermark 'British Handmade Paper' ... So we said ... we'll call it Handmade Films." The first film distributed by HandMade Films was "The Long Good Friday" (1980), and the first they produced was "Time Bandits" (1981), a co-scripted project by Monty Pythons Terry Gilliam and Michael Palin. The film featured a new song by Harrison, "Dream Away", in the closing credits. "Time Bandits" became one of HandMade's most successful and acclaimed efforts; with a budget of $5 million, it earned $35 million in the US within ten weeks of its release.