What’s an Oscar Win Worth? Studios Spend Big Even as Award’s Value Declines

Nation/World
An Oscars statue is seen as preparations are made ahead of the 91st Annual Academy Awards at the Dolby Theatre in Hollywood on Feb. 24, 2019. (Credit: Mark Ralston/AFP/Getty Images)

An Oscars statue is seen as preparations are made ahead of the 91st Annual Academy Awards at the Dolby Theatre in Hollywood on Feb. 24, 2019. (Credit: Mark Ralston/AFP/Getty Images)

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There was a time when a best picture Oscar meant everything to studios. A big win could significantly boost the box office for a film and create years of steady revenue from video sales and replays on TV. Before his downfall, Harvey Weinstein used the clout of the Oscars to turn movies like “Chicago” and “The King’s Speech” into box-office champions.

But the famed, gold-plated statuette appears to have lost some of its luster.

There was a time when a best picture Oscar meant everything to studios. A big win could significantly boost the box office for a film and create years of steady revenue from video sales and replays on TV. Before his downfall, Harvey Weinstein used the clout of the Oscars to turn movies like “Chicago” and “The King’s Speech” into box-office champions.

But the famed, gold-plated statuette appears to have lost some of its luster.

Read the full story on LATimes.com.

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