It’s coming up for Oscars time again.
- The Dolby Theatre, home of the Oscars, can seat 3,400 people
- The estimated cost of the Academy Awards is between $30-$50 million
- Jane Campion’s 2022 film, The Power of the Dog, received the most nominations with 12 for a single film
- 2022’s Oscar for best picture went to Coda, yet the film only grossed $1,6 million globally
- 16,6 million viewers watched the 2022 Oscars globally
- The 2022 ceremony generated 22,7 million engagements on social media
- 2,500 guests have been invited to the 2023 Oscars on 12 March
- 2023 will be the 95th Academy Awards
The Academy Awards or “Oscars” which will take place on the 12 March 2023. The presentation ceremony is held under the auspices of the Academy of Motion Picture Arts and Sciences (AMPAS) at the Dolby Theatre in Los Angeles in the US. The theatre measures some 180,000 square feet and can seat 3,400 comfortably on a ground and a mezzanine level.
Award season in LA injects a massive amount of dollars into the local and wider economy. Its sunny skies and warmer climate can’t hurt either, particularly in February and March when east coast US residents are still wearing pullovers.
Join us as we take a look at the latest statistics, facts and figures surrounding the 2022 and 2023 Academy Awards.
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Oscars’ Economic Benefits
While it’s estimated that a ceremony such as the Oscars or the Emmy Awards can cost between $30-50 million to put on, how much do these kinds of glitzy events give back?
The answer, in short, is a lot.
According to business and economic analysts, award ceremonies such as the Oscars, the Emmys and MTV VMA Awards inject huge amounts of money into Los Angeles and its wider region. Businesses such as limousine rentals, restaurants and hotels do a roaring trade during the Oscars, not to mention the businesses involved in setting up and running the glitzy ceremony.
Economic analysis takes a long time to collate data so the figures for 2022 are still being collected and analysed. But much older data showed that the award night injected around $130 million into the City of Angels, and that was 15 years ago. You can imagine what the amount was in 2022 and will be this year.
Academy Awards In 2022
While the 94th event will forever be remembered for #thatslap when Will Smith slapped presenter Chris Rock after he cracked a joke about the actor’s wife, the event also showcased memorable films and excellent cinema.
The major awards went to:
Best Picture: Coda
Best Actor: Will Smith in King Richard
Best Actress: Jessica Chastain in The Eyes of Tammy Faye
Best Director: Jane Campion for Power of the Dog
Best Animated Feature: Encanto
Best International Feature Film: Drive My Car
Best Original Song: No Time To Die by Billie Eilish and brother, Finneas O’ConnellBest Documentary Feature: Summer of Soul.
Campion’s film, The Power of the Dog, received the most nominations with 12 for a single film in 2022.
But winning the best picture category at the Academy awards doesn’t necessarily translate into huge box office profits.
According to Statista, Coda, the best picture winner in 2022 made $1,6 million globally, while Doctor Strange in the Multiverse of Madness grossed a massive $873 million.
The 94th event in 2022 took place on 27 March. The actresses Amy Schumer, Wanda Sykes and Regina Hall hosted the ceremony. The ceremony drew some 16,6 million viewers on Sunday night, which Variety reported was an increase of 58% over 2021’s 10,5 million viewers.
Social Media Interaction For The 2022 Oscars
US newscaster ABC said there were some 22.7 million social media interactions during the ceremony — the most ever for an Oscars telecast and more than double the 9.5 million recorded from the 2021 show. Netizens went wild following the slap incident, most voicing their disapproval while others sided with Will Smith. Oscar videos, jokes, memes and comments notched 16 million views on Facebook, Twitter or YouTube.
For the first time in 2022, the Oscar ceremony had an all-black production team. The show featured 120 musicians, 80 dancers and 45 presenters over the course of the ceremony. Some 5,000 people are involved in making the show happen from producers, stagehands, make-up artists, and hairdressers to lighting, sound and broadcast technicians.
It is estimated that it takes around 30 days or a month to prepare, set up and make ready for the show. That’s a lot of people working and taking earnings home and that’s before the big spend of the stars attending the ceremony itself.
Let’s take a look at what’s to come in 2023.
2023 Oscars
It was recently announced that Jimmy Kimmel will host the 2023 Oscars. This will be his third time hosting the event.
The full line-up of the nominees in their categories has been released but predictions of winners for the best picture award all point toward Everything, Everywhere, All At Once, The Banishees Of Inisherin, Tár and The Fabelman’s.
The choice of contenders has not been without criticism, with many observers commenting that snubbing women directors and leading black actresses who gave stellar performances is surprising at best, and disrespectful at worst.
Oscar FAQs
Let’s look at some facts and frequently asked questions about the Oscars.
How Many Guests Have Been Invited In 2023?
Some 2,500 guests have been invited to this year’s ceremony. You can bring limited guests if you are a presenter or a nominee.
Are The Statues Real Gold?
No, they are solid bronze and coated in 24 carat gold.
How Much Does It Cost To Produce The Statues?
The statues cost $400 to produce. Their face value? A mere $1.
How Many Gift Bags Are Handed Out?
Gift bags are given to the five nominees in the four acting categories as well as the Best Director nominees.
What’s In The Bags?
Not all contents have been disclosed but apparently, there is some gold-infused olive oil.
How Much Do Oscar Hosts Get Paid?
$15,000 for months and months of preparation and work.
Who Is Performing In 2023?
Performers will probably be Rihanna and Lady Gaga going head to head, with “Lift Me Up” from Black Panther: Wakanda Forever and “Hold My Hand” from Top Gun: Maverick, respectively.
Where Can You Watch The 2023 Oscars?
Here’s a full list of how you can watch the Oscars wherever you are around the world on Sunday 12 March 2023.
All in all, the night is worth a watch, even though bookies are probably not taking any bets on whether there will be any surprises that surpass #thatslap at 32,8 million engagements.
Sources:
https://variety.com/2022/tv/ratings/oscars-ratings-2022-academy-awards-1235210795/
https://people.com/movies/oscars-2022-by-the-numbers-fun-facts-94th-academy-awards/
Nathan has always been captivated by numbers and patterns. With a Master’s degree in Statistics, he’s honed his skills to decipher complex data sets and discern market trends.
Over the past decade, Nathan has worked with various firms compiling and analyzing industry spending figures to forecast market movements.