Quick Study: The Oscars

Who will take home the gold statue this year?

“The solemnity of the annual Nobel ceremonies in Stockholm with the cheerful bad taste of the grand opening of a shopping centre in Los Angeles.”
 
That’s how film critic Vincent Canby has described the Academy Awards. On March 7 you can see for yourself.

Hundreds of millions of viewers in 90 or so countries will tune in to watch the movie industry’s most glittering stars put on the glitz, and witness a select few take home Tinseltown’s top prize—the Oscar. Here’s a look at what it’s all about.

Cashing In

“Oscar winner.” It’s a label that means success, fame and, yes, riches. Nabbing a Best Picture Oscar generally guarantees a film an extra US$20 to US$50 million in ticket sales. Titanic earned a further US$100 million. According to Variety, a win in any major category will boost a film’s revenues by US$11 million.

Anyone who wins a Best Actor or Actress award is instantly promoted to the A-list and can exponentially increase his or her acting fee. It’s rumoured that Hilary Swank upped her asking price from US$1 million to US$8 million a picture after winning Best Actress (her second) in 2004 for the aptly named Million Dollar Baby.

More the Merrier

This year the Academy has announced that it is allowing ten movies to be nominated for Best Picture, instead of five. Wildly popular animated films, comedies and smaller independent films now stand a better chance of being nominated. (No animated film has ever won Best Picture.) The change should also boost viewer numbers for the annual ceremony because more film fans will tune in, hoping to see their favourite movie win.