1996 in film

• Independence Day became the highest-grossing film of Will Smith's career, up until it was surpassed by Aladdin (2019).[2]
• Rumble in the Bronx was released in North America, becoming Jackie Chan's first major box office hit in the region, with its US box office alone earning over 20 times its budget.[3] It was Chan's biggest ever hit up until then.[4]

The theatrical year of 1996 achieved a $5.8 billion domestic gross milestone and saw a record twelve films earning over $100 million by the end of December, with Independence Day earning over $300 million. However, the film industry experienced a surplus of releases between 1995 and 1996 that resulted in several box office flops, studio bankruptcies and sales, and otherwise successful films struggling to turn in a profit. The average cost of producing and marketing film rose to $60 million, a 20% increase from the previous year, with a contributing factor being the record high-salaries for stars such as Sylvester Stallone, Tom Cruise, Arnold Schwarzenegger, Mel Gibson, Jim Carrey, Harrison Ford, Michael Douglas, Sharon Stone, Julia Roberts, and Demi Moore that became the subject of industry scrutiny following several high profile flops that were released in between 1995 and 1996. This resulted in studios having to cut their film slate by fifty percent to offset growing production and marketing costs and ensure more profits.[5][6][7][8][9]

• 1st Empire Awards