Jaws was the first ever blockbuster, it was also an event movie due to all the hype it received, making a lot of money in return. The Hollywood film industry saw this as a ultimate success and then went on to make nothing but blockbusters so that they have guaranteed revenue.
imdb data base (Jaws bugdet/gross)
Godfather was also a blockbuster but which received a large revenue but also boasted a sizeable budget because of its "A list" actors.
imdb database (godfather budget/gross)
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