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The biggest night of the year in Hollywood – a demanding extravagance of designer dresses, the distinguished Dolby Theater, a laureates' lunch, and more. – makes the academy a nice penny a year. So how much does the ceremony cost?
According to The Guardian, the show was costing about $ 21 million at the Academy in 2016. However, this value does not count for lunch, the governor's ball or the governor's awards, which – while contributing to the creation of hype – still contribute to the total cost of putting on the Oscars.
The candidates' luncheon offers the Academy approximately $ 260,000, while the governors' awards and the governors' ball (the official post-game title of the Oscars) cost approximately $ 865,000 and $ 1.8 million respectively. , according to Andrew Pulver, who also allocates additional expenses, including producer fees, red carpet costs, and security in his room.
Oscars cost more than 40 million dollars to put on
During the live show, associated activities and other (more technical) costs associated with the production itself, the annual Oscars cost more than $ 40 million.
However, remember that the Academy is not the only party to pay money for this event, candidates must spend a lot of money on campaign costs.
How much does an Oscar campaign cost?
From public relations consultants to advertising fees to commercials and movie screenings, campaigning for the Oscars is not easy. Promoting a movie for the most coveted award in the entertainment field requires experienced marketing experts and extensive contacts in the industry.
While the power of the stars and the most fervent followers follow, as they think A star is born – is certainly an advantage, it does not mean that you can do without a professional promotion team.
According to The Guardian, the campaign for the Oscars will broadcast between 5 and 8 million dollars. Unfortunately, it is sometimes difficult for low-budget films to campaign in a competitive manner against films at the box office; However, they have a chance for an essential reason.
The Oscars are unique – in comparison to other awards ceremonies – in that voters are themselves entertainment professionals. Industry peers are the most able to see beyond the pink perfection that an experienced announcer will create. Since actors cast votes for actors, directors, etc., qualified candidates will likely be recognized, regardless of the reputation of their films.
How much is the Oscar statuette worth?
The gold-plated emblem of eternal success – even if it is of great importance to any recipient – is one of the least expensive expenses of the Oscars. However, when you multiply the cost of one by the number assigned, the total is quickly added.
According to Quora, about 50 academic awards are given each year and each award costs around $ 900. Thus, by multiplying, small statuettes add about $ 45,000 to the cost of the ceremony.
Now, you probably think that the cost of an Oscar does not reflect its value. However, even if any devoted fan would be willing to pay a lot more to own an Oscar, it is virtually contrary to the rules of sale.
According to Money.com, the Academy has put in place a legal provision preventing any Oscar winner from selling the prize without first returning it to the Academy. And the best part, the academy will only pay $ 10 for that. The law is in place to preserve the artistic integrity of the prize.
Although it can be quite expensive to run for the Oscars and to hold the annual ceremony, the payoff is priceless. Most recipients get a huge boost in their celebrity status and then have the flexibility to choose the roles that interest them the most. However, in terms of increased box-office revenue, a winning film is expected to increase only about $ 3 million, according to The Guardian.
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