The series was officially approved for broadcast by ABC and thirteen episodes were commissioned on May 11, 2007, produced by Warner Bros. Television.

Because of the Writers Guild of America strike in Hollywood, only eleven of the originally commissioned thirteen episodes were actually produced.

ABC pulled Big Shots from its schedule in December 2007, replacing its slot with repeats of Private Practice, before bringing it back in the mid-season schedule announced on December 15, 2007; the series was officially cancelled on May 13, 2008.

Early critical reception was largely negative: Newsweek said the show 'spends its time both literally and figuratively' in the toilet, while the Los Angeles Times described its lead characters as 'insufferable, self-centered and whiny.'

People magazine labeled Big Shots one of several 'Sex and the City clones' with characters described as 'Entourage-wannabes,' while The A.V. Club compared it unfavorably to AMC's Mad Men.

In contrast to most reviews, The New York Times gave a notably positive assessment, calling the show 'one of television's rare examples of successful farce.'

The show premiered simultaneously on CTV in Canada on September 27, 2007, but was later shifted to CTV's secondary channel A-Channel starting October 25, 2007.