A hugely successful movie, book, or other entertainment that makes tons of money and is loved by millions of people.
Originally a WWII bomb that could destroy entire city blocks ('block-buster'). After the war, the term transferred to powerful films like 'Jaws' (1975) that dominated box offices and 'busted' all previous records.
The word literally means a bomb powerful enough to demolish city blocks—so calling a movie a 'blockbuster' is saying it hits audiences with that same explosive power, which is exactly what 'Jaws' did in 1975, basically inventing the summer blockbuster as we know it.
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