The announcement of Academy Award nominations is never just about prestige; in Hollywood, it is the most potent form of marketing money can't buy. The "Oscar Bump" is a tangible economic force, reigniting public interest and keeping films in theaters weeks or months longer than usual.
Moonstruck, already a critical darling, found a massive second wind. Casual moviegoers who had missed it during the holiday rush now flocked to cinemas to see what the Academy was raving about. Riding this wave of momentum, the film surged past a significant financial milestone in early March, crossing the coveted $100 million mark domestically.
Meanwhile, the engines finally cooled on the juggernaut that was Top Gun. After dominating the global box office for the better part of a year, the film ended its theatrical run, cementing statistics that were nothing short of historic.
The film's final box office figures showed a Domestic Gross of $264 million and a Foreign Gross of $261 million resulting in a Worldwide Total of $525 million.
With a worldwide total of $525 million, Top Gun finished tantalizingly close to the silver medal of all-time box office history. It fell just $5 million short of George Lucas's original space opera, Star Wars ($530 million). While missing that particular milestone was a minor sting for the studio executives, those executives were being far too picky given the phenomenal success of the picture.
Alex Hayes now headlined the third highest-grossing movie in the history of cinema.
To sit at number three, behind the titans of the genre, was staggering. The all-time worldwide box office rankings (as of March 1988) placed E.T. the Extra-Terrestrial first ($724M approximately) and Star Wars second ($530M approximately), meaning Top Gun ($525M) currently held the third position among the biggest hits ever made.
Universal Pictures could have theoretically pushed the film for a few more weeks in theaters, perhaps closing that $5 million gap and securing the second spot worldwide. However, Top Gun's Oscar nominations were mostly in technical categories—it was not a major Best Picture contender. The studio calculated that the nominations would not provide the significant economic "bump" needed to justify the immense logistical costs of keeping the film in wide distribution. Furthermore, since the first-place spot (held by E.T. the Extra-Terrestrial at $724M approximately) was unattainable, there was little marketing value difference between placing second and placing third. Instead, the studio chose to capitalize on the film's massive cultural momentum by pulling it from theaters and immediately focusing on the highly profitable home video market.
While it may have stopped at third position, it made Alex truly undisputed number one star in Hollywood. The contract of Alex Hayes says 18 percent of the first-dollar gross. That means Alex received a cut from every dollar the movie earned, starting from the first ticket sold, before the studio deducted any of its own costs, expenses, or distribution fees.
Based on the final worldwide total of $525 million, Alex's cut from the theatrical run alone amounted to $94,500,000.
When combined with his upfront salary of $5 million, his total earnings for Top Gun stood at $99.5 million—effectively $100 million once minor bonuses were calculated, and that was before counting a single cent from his percentage of the home video market.
With just one film, Alex Hayes had secured the biggest single payday in Hollywood history.
At the mere age of 24, with his career trajectory still soaring toward its zenith, this milestone served as a powerful prophecy of the countless records he was destined to shatter.
*********
By March, the Rain Man production had settled into the rhythm of a road movie. The tension between Alex and Dustin Hoffman remained a constant, productive friction, fueling the scenes between the estranged brothers. However, the atmosphere on set lightened significantly with the arrival of the actress playing Susanna, Charlie Babbitt's girlfriend.
The role had gone to Diane Lane. While Alex had certainly put in a good word for his long-time friend, Diane had refused to rely solely on nepotism. She had auditioned rigorously, going head-to-head with the Italian actress Valeria Golino. In the end, Diane's chemistry with Alex—honed over years of friendship—and her ability to project the weary patience needed to deal with Charlie's selfishness won her the role on merit.
During a break in filming, Diane approached Alex, who was resting in his trailer. She held a copy of Time Magazine behind her back, a mischievous glint in her eyes.
"Have you seen it?" Diane asked, standing in the doorway.
"What?" Alex asked, looking up from his script.
She whipped the magazine out and tossed it onto the small table next to him.
TIME MAGAZINE
THE $100 MILLION MAVERICK
How Alex Hayes Redefined the Hollywood Paycheck
Alex picked it up, staring at his own face on the cover. The article detailed the historic backend deal for Top Gun, confirming to the public what the industry already whispered: he was the highest-paid actor in history.
He chuckled, tossing the magazine back down. He looked at Diane, arching an eyebrow. "Jealous?"
"Very much," she laughed, the sound bright and unforced.
"Come on," Alex countered, leaning back with a grin. "Your career isn't exactly doing bad either."
Diane nodded, conceding the point, thanks in large part to Alex's early guidance and the powerhouse support of CAA. Just the previous year, she had starred in the thriller No Way Out opposite Kevin Costner and played Darien Taylor, the sophisticated girlfriend of Bud Fox, in Oliver Stone's hit Wall Street. Both films had been critical and commercial successes, cementing her status as a rising star. (Note: Unlike the string of flops she had delivered in the real life during this period, her career here was flourishing,)
The laughter lingered between them, but beneath it, there was a brief flicker of hesitation in Diane's eyes. There had been a time in the past year when she was too embarrassed to even face him, feeling she was the inadvertent catalyst for the collapse of his relationship with Mia Sara. But Alex had simply dismissed her fears, telling her explicitly that it was not her fault and that he refused to lose one of his best friends because of it.
He held her gaze, communicating without words that the past was the past. He knew the breakup wasn't her fault; the cracks in his relationship with Mia had been there long before the horse ride. Diane was one of his best friends, and he refused to let circumstance ruin that.
Diane smiled, the tension evaporating. "Thanks, Alex."
"Aren't you going to say it?" Alex asked suddenly, peering at her closely.
"Say what?"
"You're glowing, Di. More than usual," Alex noted, gesturing to her hand. "Is it because of that rock on your finger?"
She laughed, lifting her hand to admire the diamond catching the trailer's light. "I thought, how long will it take for you to notice? Chris proposed."
She was referring to Christopher Lambert, the French-American actor who had exploded onto the scene as Connor MacLeod in the cult hit Highlander.
"Oh, Di... Congratulations," Alex said, pulling her into a genuine hug.
"Thanks," she whispered against his shoulder.
He pulled back to look her in the eyes. "So, are you happy?"
"Very much," she said, and Alex looked at her and knew it was the truth. She looked settled in a way she hadn't been in years.
"When's the big day?"
"Late this year," she replied. "And I want you there, Alex."
Alex fell silent at that, his smile faltering slightly. "Is Chris okay with that?"
"Why wouldn't he be?"
"Because of... our history," Alex said gently. "Ex-boyfriends at weddings can be tricky."
Diane rolled her eyes playfully but squeezed his hand reassuringly. "Chris is fine with it. He knows we are just friends now. Besides you are my best friend. You're coming."
Alex grinned, accepting the order. "Alright. I'll be there."