It did win in two other categories, including Best Original Song for "Over the Rainbow" and Best Original Score by Herbert Stothart. However, the film was a box office disappointment on its initial release, earning only $3,017,000 on a $2,777,000 budget, despite receiving largely positive reviews. It was MGM's most expensive production to date and did not completely recoup the studio's investment nor turn a profit until theatrical re-releases starting in 1949.
The 1956 broadcast television premiere of the film on the CBS network reintroduced the film to the wider public and eventually made the presentation an annual tradition, making it one of the best known films in movie history. The film was named the most-viewed motion picture on television syndication by the Library of Congress, which also included the film in its National Film Registry in its inaugural year in 1989. Designation on the registry calls for efforts to preserve it for being “culturally, historically, and aesthetically significant”. It is also one of the few films on UNESCO's Memory of the World Register.
The film is often ranked on best-movie lists in critics' and public polls. It is the source of many quotes referenced in contemporary popular culture.
The songs were written by Edgar "Yip" Harburg (lyrics) and Harold Arlen (music). The musical score and the incidental music were composed by Herbert Stothart.
This popular arrangement of songs from the film include “We’re Off to See the Wizard”, “Ding, Dong, The Witch Is Dead”, “If I Only Had a Brain”, “The Merry Old Land of Oz”, and “Over the Rainbow”.
