You might want to consider what it would cost today to make movies such as Snowhite, Dumbo and 101 Dalmations today, as they made it back then. I suspect the cost would far exceed $100 million.
Why? Well, a movie is 24 frames per second, so multiply that out by the number of minutes. Each frame typically has characters moving. While you can do it on twos or worse, it will show, depending on what action is going on (see Saturday morning cartoons). In the time frame of those old movies each cell was really a cell, painted on by artists. Make a mistake and start over. There were many cells per frame, depending on the number of characters. You can reuse the background and make one background which is large for pans and such. You then need to take all the backgrounds and cells and take a picture, one at a time, to put it on film. Mistakes or if it does not work correctly, start over. This is after all the story is done, which often has to be redone when you get it finished because it does not work out like you would like.
Each character is painted with an outline (101 Dalmations used xeroxgraphy to reduce the work by creating the black outlines). Then you have to paint the colors in. Simple colors are easier, others require more work such as an air brush.
What you see in a second takes a lot of time to create, but it is art. To see the backgrounds which are used is impressive as each work is typically a work of art and far more impressive than when it is in the movie. It would show if it was not at that quality. An Animated Feature is often consists of numerous works of art (each frame). You can take a snapshot of a mountain in a fraction of a second, but to paint it take much longer, then consider the difference between the two.
Add to all that the voices since if you use known names, those voices are expensive.
Recent films have used computers to make the work easier, but salaries have increased, especially with the competition. Several years ago the salaries of the artists increased dramatically. More recently Disney has cut the salaries. Ever have a 30-50% pay cut for doing the same work? That is assuming that the person got to keep their job, otherwise it is 100%.
No way that the old films could have cost as much? I would have to wonder how they even managed to make the film, much less the cost.
Most people have no idea of what it takes to make an animated movie nor the time it takes. Live action can be filmed at 24 frames per second, an animated movie can not as you have to create each and every frame, compositing in multiple characters with the background.
Many movies today are getting more and more expensive because of the cost of the salaries and also because the filming is done with little regard to the cost of having to digitally modify the images (wire removal, special effects, etc.). Fix it in post is the line. Then instead of filming practical effects, it is far more cool to create the effects digitally, which often cost more.
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