The film is known for spoofing the James Bond films, amongst other classic movies.
The film, which cost US$16.5 million, opened on May 2, 1997, grossing US$53 million from its North American release and over $67 million worldwide. The film later spawned two sequels, Austin Powers: The Spy Who Shagged Me (1999) and Austin Powers in Goldmember (2002), with Myers repeatedly mentioning the possibility of a fourth film over the years (as of 2016).
In 1967, British spy Austin Powers (Mike Myers) thwarts an assassination attempt by his nemesis Dr. Evil (also played by Mike Myers) in a London nightclub. Dr. Evil escapes in a space rocket disguised as a Big Boy statue, and cryogenically freezes himself. Powers volunteers to be placed into cryostasis in case Dr. Evil returns in the future.
Thirty years later, in 1997, Dr. Evil returns to discover his henchman Number 2 (Robert Wagner) has developed Virtucon, the legitimate front of Evil’s empire, into a multibillion-dollar enterprise. Uninterested by genuine business, Dr. Evil conspires to steal nuclear weapons and hold the world hostage for $100 billion. Evil also learns that during his absence his associates have artificially created his son, Scott Evil (Seth Green), using his frozen semen. Now a Generation X teenager, Scott is resentful of his father’s absence, and resists Dr. Evil’s attempts to get closer to him.