Nearly bankrupting Columbia Pictures, Lost Horizon (1937) is still considered by some to be the most expensive movie ever made in Hollywood. In fact, it took 5 years to recoup the film’s production cost which is practically unheard of in the film business. Lost Horizon depicts Shangri-La (that’s right THAT Shangri-La) a mythical utopia deep in the Himalaya Mountains. Although not about Buddhism directly it does illustrate the difficulty that the "West" had (has?) understanding the "East".
The film is based on the successful book with the same title written by James Hilton. If you’re interested in reading the book it can be found at Gutenberg where it can be read for FREE. If you’re interested in reading a very interesting article on the importance of Lost Horizon you can read Lawrence Normand’s "Shangri-La and Buddhism in James Hilton’s Lost Horizon and W. H. Auden and Christopher Isherwood’s The Ascent of F6".