A 25% Rotten Tomatoes Score and Two Razzies Later, M. Night Shyamalan Still Thinks Lady in the Water Was Misjudged

It’s been 20 years since M. Night Shyamalan’s Lady in the Water (which won him Razzies for Worst Director and Worst Supporting Actor) made its way to cinemas, and the director still thinks people should give it another chance.

And you know what? This isn’t actually a new opinion from Shyamalan. He’s defended the 2006 fantasy in a 2024 interview with The Atlantic, where he said he still “loves” it.

Now, he’s making the case for a reappraisal.

Why M. Night Shyamalan Says Lady in the Water Deserves a Reappraisal

In a recent interview with TheWrap (conducted ahead of his Beyond Fest 2026 retrospective), Shyamalan was asked which of his older films he thinks deserves a proper reappraisal. His answer was clear: Lady in the Water.

Shyamalan explains that it has “such a wacky color and heart to it,” and that it’s the closest he has come to blending the family film and thriller sides of himself.

For those unfamiliar, the story follows Cleveland Heep (Paul Giamatti), a lonely apartment manager who discovers Story (Bryce Dallas Howard), a mysterious water nymph living in the complex’s swimming pool.

Soon, the building’s residents are pulled into a strange fairy tale involving creatures and an elaborate mythology. Shyamalan himself plays Vick Ran, a writer whose work is destined to have a major impact on the future. Bob Balaban, meanwhile, plays Harry Farber, a smug film critic who meets a grisly end, which many took as a jab at Shyamalan’s own critics.

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The Critics Weren’t Impressed: Lady in the Water’s Rotten Tomatoes Score

Lady in the Water currently sits at just 25% on Rotten Tomatoes, with a 49% audience score. It also made around $72.8 million worldwide against a reported $70 million budget.

But the critical response was never unanimous. Cahiers du Cinéma included Lady in the Water in its 2006 Top 10, putting it alongside films from directors like Bong Joon-ho and Alain Resnais, and even ranking it above Martin Scorsese’s The Departed.

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Where to Watch Lady in the Water: Beyond Fest Screening and Streaming

And now, two decades after its release, Lady in the Water is getting a chance to be seen in an entirely new light.

Beyond Fest’s 2026 Night Visions: The Shock and Awe of M. Night Shyamalan retrospective is screening 12 of his films. Lady in the Water is showing on October 12 at 10 p.m. at the Los Feliz 3 in Los Angeles (Shyamalan won’t be attending this one).

At the same time, Shyamalan recently dropped the trailer for his 18^th film, Remain, which opens on February 5, 2027. And, truthfully, it actually shares some similarities with Lady in the Water. In the new film, Jake Gyllenhaal’s character is a grieving man who meets a mysterious woman who might not be real.

Shyamalan clearly hasn’t stopped believing in this eccentric film of his, so perhaps it really is worth another watch.

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Lady in the Water is streaming free on Plex and Kanopy (with a library card), and it’s available to rent or buy on Prime Video, Apple TV and Fandango at Home.