A24’s Elden Ring adaptation is heading to the American Film Market with a reported production budget of $175 million to $200 million, setting a record before it reaches theaters.
According to Deadline, that makes it the highest-budget standalone project ever offered for sale at a film or television market. The distinction concerns its production budget, rather than the price paid for distribution rights.
Ahead of the market, Amazon MGM has already secured a substantial package of international streaming rights, bringing a major partner aboard A24’s ambitious adaptation.
Amazon Secures International Streaming Rights
Amazon MGM’s agreement reportedly covers the first subscription streaming window in numerous international territories. Sources cited by Deadline estimate the deal’s value in the tens of millions of dollars, although an exact figure has not been disclosed.
The upcoming market will give other distributors an opportunity to acquire rights to a property with an established audience. However, the size of the production represents a considerable financial commitment, even with a major streaming agreement in place.
A screenshot from Elden Ring (2022), FromSoftware Inc.
READ: Tim Sweeney Calls Steam AI Labels as Partisan as Mandatory Political Essays
The reported budget alone does not establish how much the film must earn theatrically to become profitable. That calculation also depends on marketing expenses, distribution agreements, streaming revenue, and other financial arrangements that have not been publicly detailed.
Nevertheless, the investment places substantial expectations on a film that must appeal to longtime players and audiences unfamiliar with the game.
Alex Garland Brings the Lands Between to Theaters
Deadline first reported in May 2025 that Alex Garland would write and direct the live-action adaptation for A24 and Bandai Namco Entertainment.
Bandai Namco subsequently announced a March 3, 2028, theatrical release and confirmed that the film would be shot for IMAX.
The ensemble includes Kit Connor, Ben Whishaw, Cailee Spaeny, Tom Burke, Havana Rose Liu, Sonoya Mizuno, Jonathan Pryce, and Nick Offerman.
Kit Connor as Nick Nelson in Heartstopper – Netflix
READ: Man Found Unresponsive Near Disneyland Resort Entrance on Katella, Police Say
Connor previously worked with Garland on A24’s Warfare and will also portray Cyclops in Marvel’s upcoming X-Men reboot.
Developed by FromSoftware under Hidetaka Miyazaki’s direction, with mythology written by George R.R. Martin, Elden Ring debuted in 2022. Martin also serves as one of the film’s producers.
Players enter the Lands Between as a Tarnished, exploring a fractured realm and confronting powerful adversaries on a journey toward becoming Elden Lord. Its sprawling environments invite them to uncover the world’s history while choosing how to approach its many dangers.
An Acclaimed Game Sets a High Bar
The source material brings both commercial success and critical acclaim. Bandai Namco’s April film announcement said Elden Ring had surpassed 30 million copies sold worldwide. Its PlayStation 5 version holds a 96 Metascore on Metacritic, earning the aggregator’s “Universal Acclaim” designation.
Those achievements help explain the appeal of an adaptation, but translating the experience presents a difficult creative assignment. Exploration and player choice are central to the game. Garland must convey its scale, mystery, and danger through a narrative that viewers experience without directing it themselves.
A screenshot from Elden Ring (2022), FromSoftware Inc.
READ: REVIEW: ‘Wildwood’ – Now This is Cinema
For A24, success could establish a valuable franchise and strengthen its position in large-scale filmmaking. A disappointing result would expose the company to the financial pressures that accompany such expensive productions. Neither outcome is assured by the game’s popularity.
The budget can help bring the Lands Between’s creatures and landscapes to life. Whether audiences embrace the film will depend on how effectively Garland turns that spectacle into a compelling story while preserving the qualities that made the world worth exploring.
What do you think about A24’s investment in the Elden Ring movie? Sound off and let us know!
UP NEXT: Prince Harry and Meghan Markle Flee UK Amid Allegations Against Duchess’s Father
