The Titanic movie contained the "million dollar" shot. This was a CGI shot that James Cameron required for the final film, costing 1 million dollars in the process.
The movie received 10 Oscars, including one in visual effects. This is significant as it shows visual effects were becoming to be admired by the general public and professionals; film was a growing medium to tell stories in.
The price of the shot is significant, as it showed the economy boom of the 90s; film was being heavily invested in, to innovate the medium.