Tuesday, January 28, 2014
The Oscar Effect: An Economic Breakdown of the Academy Awards
The Oscar statuette costs roughly $400 to make, but being nominated for one can result in millions of dollars of revenue at the box office. Winning an Oscar means different things for different people. For an actor, it symbolizes recognition of his or her professional achievement, and usually results in higher salaries and better roles in the future. For fans, the nomination indicates which films are viewed by the industry as worthy of appreciation. And for film distributors, being nominated or winning the award means additional box office earnings.
Keeping this in mind, let’s look at a few percentages and some numbers to find out exactly how nominations and awards affect a film’s performance at the box office.
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