"We organized a big distribution screening in L.A. the weekend all the distributors were coming to town for the Spirit Awards," he said. “But every distributor passed [on it] in one night — nobody wanted it. Some of the distributors were really awful to us, actually, and said they’d walked out of the film. It was a really, really tough ride … pretty devastating."
After failing to find a buyer, Memento eventually was distributed in North America by the film’s financier, Newmarket Films, which set up its own distribution arm. The film went on to earn almost $40 million from a budget of $5 million, and two years after the rejections, Nolan and his producer wife, Emma Thomas, returned to the Independent Spirit Awards to pick up the best director, best screenplay and best supporting actress awards, followed by a couple of Oscar nominations. Memento eventually was recognized by many as one of the best films of the decade.
"It was a really unique road. I don’t think I’ll ever have a moment like that [again] in my career," said Nolan. "We took a huge knock, back as far as we could go. But we came back from it with sheer good fortune."
--Alex Ritman, Hollywood Reporter, on the fickleness of human opinion