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From the Statue to the Red Carpet, This is How Much the Oscars Cost

Old Oscar turns 90 this year and he’s living a moment of transformation. Hollywood’s biggest issues, such as racial and gender inequality are far from over, but in 2018 major players inside the industry are saying in more than one way that “time’s up”, and the nominations for the 90th Academy Awards include a record-breaking number of women and minorities.

This time, the best director category is making history: the slot includes both a white woman and a black man, with each group being represented for just the fifth time. Jordan Peele became the first black person nominated for directing, writing, and producing in the same year with “Get Out”; meanwhile Greta Gerwig is nominated for directing and writing for “Lady Bird”. This also marks the second year in which both a white woman and a black man were nominated for Best Director. Before Gerwig and Peele, Kathryn Bigelow and Lee Daniels were among the nominees in 2008, with Bigelow taking the statuette for her outstanding work in “The Hurt Locker”. She’s still the only women to have won in this category.

The event is also an occasion to enjoy the glitz and old Hollywood glamour. According to WalletHub’s the overall cost of the event comes in at about $44 million USD. The 16,500-square-foot red carpet costs an impressive $24.7 thousand, which is probably why the show’s cost keep going up each year. The 24 karat gold-plated Oscar statue is worth $900 (each) and is 13.5 inches tall. At 8.5 pounds, it’s no wonder everyone who receives one always says how heavy it is!

When it comes to the total cost of the look for an A-list star, the sum of all her parts can skyrocket to as much as $10 million! So, if she walks 16 steps on the 500-foot-long red carpet that’ll be $625,000 for each step! Meanwhile, the guys’ grooming is more low-maintenance, but that even can run up to $270,000 each step.

The Academy Awards is also a great opportunity for ad revenue: the cost of a 30-second commercial during the Oscars telecast is $2.6M. While last year’s broadcast delivered record low ratings, with an overall draw of 32.9 million viewers, the 2017 show was the second least-watched in modern TV history, while attracting the fewest-ever number of adults 18 to 49 (11.7 million), it still ranked as the No. 8 broadcast of the year. Outside of NFL football and other major sports, it remains as one of the biggest opportunities to deliver one’s message to such a large, engaged live-TV audience.

There’s plenty of excitement to go around this time, in what promises to be a record-breaking award show without any envelope shenanigans this time! The 90th Annual Academy Awards will be broadcast live from Hollywood’s Dolby Theatre, Sunday, March 4 at 8 p.m. EST.

 

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