The Sex, Lies, and Videotape in the year 2006 was added to the National Film Registry of the United States of America and was viewed as a great specimen of being "culturally, historically, or aesthetically significant." The film, Sex, Lies, and Videotape, has in its category of actors film stars like Andie MacDowell and Peter Gallagher in the characterization of Ann and John Millaney respectively, a troubled married couple in Baton Rouge, Louisiana. Again James Spader plays the role of Graham Dalton, an old college friend of John's and a seeming drifter, who, after nine years, has returned to live in Baton Rouge. The film Sex, Lies, and Videotape was written by Soderbergh in eight days on a yellow legal pad during a cross country trip. However, it has been found that Soderbergh himself has pointed out on the DVD commentary track, that, he had been thinking about the film for a year. Besides the commentary of Soderbergh also does signify that according to his own consideration, the role of Andie MacDowell was written keeping Elizabeth McGovern in mind, but McGovern's agent disliked the script so much that McGovern never even got to read it. On the other hand, it is reported that Laura San Giacomo who was also represented by the same agency had to threat to leave that agency in order to be able to play Cynthia. It is also learnt, that at the outset Soderbergh was quite reluctant to audition MacDowell but she undoubtedly surprised him and bagged the role just after two extremely successful auditions! Previously there was an unanimous decision that the role of John would be played by Timothy Daly, but it is due to the constant delays in completing the financing for the film, that led to Peter Gallagher getting the role instead. The film, Sex, Lies, and Videotape, being based on a highly controversial subject, considered to be a bold one even in the western perspective was an instant commercial success from the very beginning. There is hardly any doubt in the sensational influence of the film, Sex, Lies, and Videotape. This is best revealed from the fact that the film managed to win the Palme d'Or at the Cannes Film Festival, and Spader getting the Award for the Best Actor in the same festival. The film for its excelence also won an Audience Award at the Sundance Film Festival. It is also to be noted, that Soderbergh was also nominated for an Academy Award for the brilliance of the screenplay!

Indeed, Sex, Lies, and Videotape happens to be an important landmark in the notion of film history. In his book Down and Dirty Pictures, the author Peter Biskind explains in the most clear term that the unexampled international success of this low-budget film was responsible to the greatest extent in the beginning of the independent film boom of the 1990's. The film also proved to be a landmark in establishing the career of Steven Soderbergh, who became an important director of both mainstream and arthouse film, and for launching or boosting the careers of its principal actors. While prior to this picture the leading lady of the film Andie MacDowell was principally known as a fashion model, the film also proved to be profitable for James Spader who was seen in the role of the protagonist of the film, while in many earlier films he was best known for playing the role of the villain!