The Academy Awards ceremony has a total cost of 56.9 million dollars!
Ryan Gosling it may be “just Ken”, but the Oscar it is never a simple ceremony. As for the cost, the amounts spent are unimaginable.
The Academy Awards ceremony has a total cost of $56.9 millionaccording to a recent report by WalletHub based on its own projections, news reports and data from the Academy.
While the awards themselves tend to be a game of… guessing, the extravagant cost of the ceremony is a given, Fortune writes. From expensive goody bags for Cillian Murphy and Lily Gladstone to host Jimmy Kimmel’s (relatively) small fee. So let’s break down the cost of the biggest night at the movies.
The “golden” appearances
The estimated total cost to display a best actor at the Oscars is $10 million, according to WalletHub, but many stars have surpassed that amount. THE Lady Gaga wore a Tiffany & Co. necklace. worth more than 30 million dollars at the 2019 Oscars, as reported by Harper’s Bazaar.
A few years earlier, in 2014, the Cate Blanchett wear one $100,000 Armani dress and $18 million worth of Chopard jewelrywhile Charlize Theron ‘decorated’ her $90,000 Dior dresswith jewelry Harry Winston worth $15.8 million. The cost for a first-time actor is more modest… According to WalletHub it costs about $266,000.
The red carpet costs a fortune
And it’s not just celebrity appearances that make us dizzy with the amounts we read. The 50,000 square meter red carpet under their feet it costs $24,700, according to WalletHub. And that doesn’t even include wages for the crew of 18 workers required to install the carpet.
The gifts…
There is no prize money for the Academy Award. The gold statuette that winners take home is valued at $400, according to WalletHub. But the lucky winners of the Best Actor or Best Actress awards can claim a 20% pay increase on their next project!
Oscar “losers” still get a “consolation prize” in the form of the infamous goodie bag. So what’s in that bag… Host Jimmy Kimmel and the “losers” walked away with more than $180,000 worth of gifts, according to CNBC. It is worth noting that the bags are not affiliated with the Academy.
The biggest gift in this year’s gift bag was a three-night stay at Chalet Zermatt Peak, a ski resort in the Swiss Alps, worth $50,000. Whoever wins it can invite up to nine guests for private use of the chalet. Other expensive experiences included in the bag are a seven-night stay at the Golden Door spa in California worth $24,000, a $25,000 performance by mentalist Carl Christman and a $10,000 microneedling treatment from Cynosure.
Other gifts: A $1,350 Schwank Grill, a $515 Miage skin care set, a $139 sleep therapy device, and finally a $15 retro-themed Rubik’s Cube.
Proceeds from the ceremony
Hosting the Oscars costs a fortune, but it also brings in a lot of revenue. Advertisers pay $1.85 million for a 30-second ad during the awards ceremony. That’s far less than the $7 million CBS charged for this year’s Super Bowl, but the Oscars brought in more than $120 million in advertising for ABC.
During the 2022 Oscars telecast, the Oscars audience grew by 555,000 after Will Smith slapped Chris Rock, according to Nielsen data, helping it draw 16.6 million total viewers that year .
WalletHub estimates that the annual ceremony boosts the Los Angeles economy by about $170 million, while films that win the Best Picture award average a $7.8 million increase in domestic sales.
Source :Skai
I am Frederick Tuttle, who works in 247 News Agency as an author and mostly cover entertainment news. I have worked in this industry for 10 years and have gained a lot of experience. I am a very hard worker and always strive to get the best out of my work. I am also very passionate about my work and always try to keep up with the latest news and trends.
