Last year's winner Birdman cost US$18 million to make and ended up with US$103 million in box office returns. Movie budgets don't include expenses for marketing.
But film-makers churn out dozens of independent films each year, and not every one can win the Oscar.
The best-picture win for Spotlight, along with the Oscar Singer and McCarthy won for best original screenplay, will also help the film bring in more revenue from home video and video-on-demand. That's where many independent movies get the bulk of their sales.
Novice producers Blye Pagon Faust and Nicole Rocklin first acquired the film rights to tell the 2002 story of Boston Globe editor Marty Baron, deputy managing editor Ben Bradlee jnr and members of the paper's investigative team in 2008. Actor Mark Ruffalo, who played investigative reporter Mike Rezendes in the film, was an early advocate for the picture. Yet even after he and other big-name actors, including Michael Keaton and Liev Schreiber, came aboard, the producers had trouble finding a studio to make it.
"There weren't a lot of buyers for the paedophile-priest-reporter movie," screenwriter Singer told the Los Angeles Press Club, where the film received the club's first Veritas award for best film based on or inspired by a true story.