While the word may refer to any spectacular event, from an automobile sale to specialized museum exhibits (like the touring Cezanne retrospective of 1996) that draws crowds and media attention, it has come to be applied in a special sense to the production and marketing of movie packages in the late twentieth and early twenty-first century Hollywood. Blockbusters are expensive vehicles, generally based on both star power and special effects, that dominate multiple screens and box offices over weeks. Often released in summer to capture the leisure time of the youth market, these movies determine the release date and competing strategies of other films, generally in complementary genres (romance, more adult films, etc.) as well as recreating spectatorship. Moreover, they become tied to synergistic marketing through music, books, toys, promotional events and fast food. spending a sizable portion of the total original cost on promotions. In fact, the scale of promotions has become one of the defining features of the genre. As these definitional features suggest, they are also known more by their gross revenue than by themes or quality.

Blockbusters have become renowned for both their revenues in originals and sequels (Jaws, 1975–1987; Jurassic Park, 1993–2000; Star Wars, 1977–; Independence Day, 1997; Men in Black, 1999; Titanic, 1998); and for spectacular disappointments, (Godzilla, 1998; Wild Wild West, 1999). Such high-stakes gambles, however, have reshaped Hollywood, allowing different versions of the same product to be distributed through numerous media. Nonetheless, these films seldom garner respect as “quality” films, and few have won Oscars, except for the technical awards.