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According to onscreen credits, the film's subtitle was "A Story About the Day After Tomorrow." Lines from the poem "Creation" by Harlem Renaissance poet James Weldon Johnson appear in the opening credits, and a quote from the biblical book of Revelation. 21 appears onscreen at the end. Arch Oboler's first onscreen credit reads: "Produced, written and directed by Arch Oboler." Although Earl Lee's character is listed as "Mr. Barnstaple" in the cast credits, he is called "Oliver Peabody Schaeffer" in the film. Oboler also wrote a radio show similar in theme to Five, which featured Bette Davis. The film was shot at Oboler's 360-acre ranch in the Santa Monica Mountains, and "Cliff House," a Frank Lloyd Wright design. Cliff House was the Oboler family residence.
According to correspondence in the file on the film in the MPAA/PCA Collection at the AMPAS Library, Five risked not receiving a code seal because of a "too graphic montage depicting the pangs and struggles of childbirth." No drafts of the script had been received by the PCA, and Oboler, who made the film as an independent venture, stated that, although he could re-edit the film, re-recording the soundtrack would prove too expensive. According to an February 8, 1951 PCA memo, Oboler agreed to distribute the film in the "'art circuit'" without a certificate. The childbirth scene was apparently edited down, but not entirely eliminated. A December 14, 1950 Hollywood Reporter news item reported that Five was to have its first showing "in early January at Lake Success for a special committee of United Nations delegates," but it has not been confirmed that this screening took place.
According to a Hollywood Reporter news item, Oboler sold all interest in Five to Columbia, the film's distributor, in 1952. Oboler, a former radio writer, made Bwana Devil, the first feature-length 3-D movie, and also innovated a 3-D process called Space-Vision. Ed Spiegel, Louis Clyde Stoumen and Arthur L. Swerdloff were all former USC students. The onscreen credit for Spiegel, Stoumen, Swerdloff and Sidney Lubow reads "Photography, editing and production assistance through arrangement with Montage Films, Inc."