The domestic title was Titanic's last remaining major box office record. Avatar previously swiped Titanic's No. 1 ranking as Earth's—and James Cameron's—biggest moneymaker. (And, yes, for those just cracking open their cryogenic sleep chambers, Cameron also made Titanic.)
As of Oscar Tuesday, Avatar had grossed an unprecedented $2 billion and change worldwide.
Per Box Office Mojo, Titanic still clings to a few titles: biggest PG-13 movie of all time, most consecutive weekends at No. 1, etc.
Titanic's reign as the No. 1 domestic movie lasted about 12 years, or until its director decided to make another movie. Until Avatar, the only film that came close to threatening its supremacy was The Dark Knight.
All who want to argue that Avatar ain't all that box office-wise can take it here to puff yourself up, or, for a reality check, go here, and direct your attention to the fourth bullet point.
Here's a revised and updated look at the Top 10 domestic box office champs of all time, per Box Office Mojo stats:
Avatar, $601.1 million
Titanic, $600.8 million
The Dark Knight, $533 million
Star Wars, $461 million
Shrek 2, $441 million
E.T., $435 million
Star Wars: Episode I—The Phantom Menace, $431 million
Pirates of the Caribbean: Dead Man's Chest, $423 million
Spider-Man, $404 million
Transformers: Revenge of the Fallen, $402 million
Avatar can't win as many Oscars as Titanic did, but it can get awfully close. Get the complete list of Oscar noms right here, and see everything else we've got on the 2010 Academy Awards right here!