There is the glitz, there is the glamor. But don’t be fooled. There is also a significant financial appeal to being an Oscar nominee. The high profile acting A nomination or win is good for all those involved from the studios to the producers, directors, and actors. Oscar wins are a great public relations boon for any movie which is nominated and more so for those that win. The wide and continuous coverage of the Oscars by print, TV, radio and most importantly online media creates anticipation and awareness for any movie mentioned. All this free publicity can easily lead to higher ticket sales. The money is even better if you actually win the award. A nomination or win is good for all those involved from the studios to the producers, directors, and actors.
Contracts can have an actor’s earnings tied to ticket sales, so when an Oscar win results in higher ticket sales, the actor thereby earns more money. Some actors’ contracts can also have an award bonus clause, so if they win the Oscars, you guessed it– they get more money. Winning awards also increases the so-called artistic value, recognition, and visibility of the actor, all of which increase contract value for upcoming films.
The value of an Oscar for a studio is namely that the enormous publicity enables a studio to stretch the amount of time a movie is in theaters. Small movies see the biggest gain, because an Oscar nomination and win can result in more theater screenings. On average, studios make most of their money before the Oscars. According to an IBISWorld analysis movies on average make 50.2% before nominations, 31.8% during nominations and 18.1% after winning the award. This is based on movies that won an Oscar between 2008 and 2012. In another study, IBISWorld found that an Oscar award for best picture boosted a film’s revenue by 22%.
The financial rewards for an Oscar nomination and win are significant, especially for smaller budget films. This has resulted in studios delaying theater releases for certain movies, so that they are timed to take prime advantage of the awards season.
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