"An Oscar is worth campaigning for. The box office bounce accounts for, on average, $39m (29m) for a film that is nominated for and then wins the best picture award, depending on where it is in its theatrical release cycle. An Oscar can be career-changing for below-the-line crew, and life-changing for an actor or director."
"Over the long haul of awards campaigning, which can reasonably be said to start with the near-simultaneous late summer film festivals in Venice, Telluride and Toronto and hits its peak in mid-February as Oscar voting opens, reading the runes has become a full-time activity across the entire film industry, and an absolute obsession for Hollywood insider publications."
Oscar voting concluded at 5pm PT on Thursday, marking the end of an extensive awards campaign season that begins at summer film festivals and peaks in mid-February. The campaign infrastructure—red carpets, hospitality pavilions, and promotional events—has shut down, leaving nominees to await results. Throughout the campaign, industry publications obsessively analyze every development for predictive value. An Oscar nomination and win carries substantial consequences: winning best picture averages $39 million in box office revenue, can be career-transforming for below-the-line crew, and life-changing for actors and directors. Studios gain significant bragging rights, with companies like A24 and Neon fundamentally altering their profiles through Oscar success. Recent developments, including Michael B. Jordan's unexpected best actor win at the Screen Actors Guild awards, have shifted momentum predictions toward certain films.
Read at www.theguardian.com
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