Avatar is an American media franchise created by James Cameron, which consists of a planned series of epic science fiction films produced by Lightstorm Entertainment and distributed by 20th Century Studios, as well as associated merchandise, video games and theme park attractions.[2] The Avatar franchise is one of the most expensive franchises ever undertaken, with the combined budget of the first film and its four sequels estimated at $1 billion. The franchise has grossed over $5.2 billion worldwide; it is the 13th-highest-grossing film series of all time. The first installment, Avatar, was released on December 18, 2009, and is the highest grossing film of all-time. The second installment, The Way of Water, was released on December 16, 2022. The planned sequel series was announced by 20th Century Fox on December 11, 2009, one week before Avatar was released to theaters. 20th Century Fox had confirmed the series on January 15, 2010. Like the original film, the four sequels have "fully encapsulated" standalone plots that "come to their own conclusions". The four films have an overarching meta-narrative that connects them to create a large interconnected saga.[3] Cameron described the sequels as "a natural extension of all the themes, and the characters, and the spiritual undercurrents" of the first film.