After visiting the set of Incontri ravvicinati del terzo tipo (1977), George Lucas was sure Close Encounters would outperform the yet-to-be-released Star Wars at the box office. Steven Spielberg disagreed, and felt Lucas' Star Wars would be the bigger hit. In the idea of getting a compensation if Star Wars were a box office bomb, Lucas proposed a gentlemen's pact (as they were close friends from the university), trading two and a half percent of the profit on each other's movies. Spielberg accepted the deal, and he still receives two and a half percent of the profits from this movie (as Lucas receives the same from the Close Encounters).

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