It's a Wonderful Life

Lore & Background

The original story, 'The Greatest Gift', was written by Philip Van Doren Stern in November 1939. After it was rejected by several publishers, he had it printed as a 24-page pamphlet and mailed to 200 family members and friends for Christmas 1943. The story came to the attention of either Cary Grant or RKO producer David Hempstead, who showed it to Grant's agent. In April 1944, RKO Pictures bought the rights for $10,000, hoping to turn it into a vehicle for Grant. Dalton Trumbo, Clifford Odets, and Marc Connelly each worked on versions of the screenplay before RKO shelved the project. RKO studio chief Charles Koerner urged Frank Capra to read 'The Greatest Gift'. Capra's new production company, Liberty Films, had a nine-film distribution agreement with RKO. Capra immediately saw its potential, and wanted it for his first Hollywood film after making documentaries and training films during the war. RKO sold Capra the rights for $10,000 and threw in the three earlier scripts for free (though Capra claimed the rights and scripts cost him $50,000). Capra salvaged a few scenes from Odets' earlier screenplay and worked with writers Frances Goodrich and Albert Hackett, Jo Swerling, Michael Wilson, and Dorothy Parker on many drafts. It was not a harmonious collaboration; Goodrich called Capra 'that horrid man'.

Reader's Guide

The film's significance and legacy are rooted in its initial failure and later resurrection. Theatrically, its break-even point was $6.3 million, about twice the production cost, a figure it did not come close to achieving on its initial release. Because of the film's disappointing sales, Capra was seen by some studios as having lost his ability to produce popular, financially successful films. Its copyright in the U.S. expired in 1974 following a lack of renewal and it entered the public domain, allowing it to be broadcast without licensing or royalty fees, at which point it became a Christmas classic. It has been recognized by the American Film Institute as one of the 100 best American films ever made. It was no. 11 on the American Film Institute's 1998 greatest movie list, no. 20 on its 2007 greatest movie list, no. 8 on its list of greatest love stories, and no. 1 on its list of the most inspirational American films of all time. In 1990, It's a Wonderful Life became one of 25 films selected for preservation in the United States National Film Registry by the Library of Congress for being deemed 'culturally, historically, or aesthetically significant'. Capra revealed that it was his favorite among the films he directed and that he screened it for his family every Christmas season. It was one of Stewart's favorite films. A modern remake of the film, written and directed by Kenya Barris, is in development at Paramount Pictures as of January 2024.

Did You Know?

• The film is based on a self-published 24-page pamphlet by Philip Van Doren Stern, mailed to 200 family and friends for Christmas 1943.
• It was nominated for five Academy Awards, including Best Picture, but was unsuccessful at the box office.
• Its U.S. copyright expired in 1974, allowing it to enter the public domain and become a Christmas classic.
• The film was selected for preservation in the U.S. National Film Registry in 1990.