The Iron Giant was released by Warner Bros. in the summer of 1999 and received high critical praise, scoring a 97% approval rating from Rotten Tomatoes. It was nominated for several awards that most notably included the Hugo Award for Best Dramatic Presentation and the Nebula Award from the Science Fiction and Fantasy Writers of America. However, the film was also a financial failure, making only $31.3 million worldwide against a budget of between $50 million and $70 million.