Basic Instinct is rated R for strong violence and sensuality, and for drug use and language. It was initially given an NC-17 rating by the MPAA, but under pressure from Tri-Star, Verhoeven cut 35 to 40 seconds to gain an R rating.[5] Verhoeven described the changes in a March 1992 article in The New York Times:
Actually, I didn't have to cut many things, but I replaced things from different angles, made it a little more elliptical, a bit less direct.
The film was subsequently re-released in its uncut format on video and later on DVD
The film generated controversy due to its overt sexuality and graphic depiction of violence. During principal photography the film was protested by gay rights activists who felt that the film followed a pattern of negative depiction of gay and lesbian people in the film industry. An April 29, 1991 Los Angeles Times article documents activists' protests,[15] and the book Family Values: Two Moms and Their Son by Phyllis Burke (New York: Random House, 1993. ISBN 0-679-42188-2) covers the protests over several chapters. Members of the lesbian and bisexual activist group LABIA protested against the film on its opening night. The group GLAAD released a statement protesting the film's stereotypical and homophobic portrayal of gays and lesbians.
Basic Instinct also received criticism from those who feel it portrays bisexuals as insatiable, untrustworthy, and homicidal (in the film, Tramell is an openly bisexual woman). Outspoken bisexual writer Camille Paglia, however, has not only defended Basic Instinct, but called it her "favorite film", even providing an audio commentary track on the various special edition DVD releases of Basic Instinct.
Basic Instinct opened in theatres in the United States and was one of the highest grossing films of 1992, after its March 29 release. In its opening week, the film grossed $15 million. It was the ninth highest-grossing film of 1992, adjusted for inflation, it grossed $352,927,224 worldwide.