Money laundering?

easily one of the most shocking budgets. Where did the money go?

The production budget I heard when the film came out was $25 million.
+++by His wounds we are healed. - Isaiah 53:5+++

Yeah, I believe it was for marketing to get the word out everywhere in a short amount of time.
"The battle for the soul is fought in the forum of art."

Yea, the whole thing is weird.
I actually dont think this was that bad and the though an inflated budget, still worth the price.
This sequel suffers from the fact that society doesnt like reality. In Each horror film that has revealed it’s true identity from a Supernatural Aspect has bombed because people dont want the Villain to be humane but rather a SuperNatural Evil Force which I find lame. I Applaud these films and writer’s from being so bold and jumping off script and making the Villains Human and bringing them to life albeit, a conclusive failure.
Without strife, your victory has no meaning.
Without strife, you do not advance.
Without strife, there is only stagnation.

Yeah 24 million is far more realistic. Maybe 65 was the number after promotional material, theatre rentals, and other hidden costs post-shooting.

I also think it had nothing to do with salaries. Although Prinze Jr. and Hewitt were big names back then, I seriously doubt both their paychecks together would surpass the $10 million mark.
It's debatable that maybe the shootings that took place around the island set were somewhat expensive, but that still don't cover a budget this big.
A budget around $24 million - as the other poster said - makes more sense. But even so, it's unbelievable how they were willing to spend $24 million dollars in production costs, but were uncapable to hire a decent writer to work on the script.
-Hi.Big fan. - Why wouldn't you be?

Haha awesome, I came here to post about the insane budget too, glad to see someone beat me to it. I don't think it was the salaries though. Hollywood does this 'shell game' kind of mathematics all the time as a way to pay less taxes on their gross.
If it loses money they pay less, so they report a super high budget just in case
"dude i dont care i just love this movie you guys have a realy taste in movies what wrong with you"

I've always wondered where this figure came from. This isn't an $85m film.
I've seen $24m, which it looks and in 1998 is far more believable for a slasher film. Irrespective of the originals gross.
Sources for $24m
http://www.mbc.net/en/mbc2/articles/I-Still-Know-What-You-Did-Last-Summer.html#comment|list
http://www.google.co.uk/#hl=en&safe=off&sclient=psy-ab&q=i+still+know+what+you+did+last+summer+%2424million&oq=i+still+know+what+you+did+last+summer+%2424million&gs_l=hp.3144.8887.0.8917.54.26.2.24.25.4.794.6021.4j12j3j1j2j2j1.25.0.les%3B..0.01c.1.0Y-hSYxiWPY&pbx=1&bav=on.2,or.r_gc.r_pw.r_qf.&fp=25b3e54dee689702&biw=1366&bih=673

I saw that too and couldn't believe it. I think it's crazy how much money is used in the film industry in America (even more crazy nowadays with our economy.) When watching this I had no idea it was such a high budget. Maybe the filming locations in The Bahamas or whatever island they were on played a majority of it.

Funny you mentioned this, I was just going to start a thread on it. I was surprised that this cost $65 Million when the original only cost $16 Million. One reason could be that the stars of this movie were just becoming super-stars and ultra famous during the first one, so they could be filmed for cheaper. The lead actors/actresses by the time this were made were some of the most popular in Hollywood at the time, so their salary likley doubled or tripled. I think that is the best explination as there are no extra special effects or anything else that were expaned or improved on much since the first movie which would have driven up the cost that much. This movie did make money, but the first one made about 10X the budget, this was about 1.5X.

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