Movie studios can spend millions campaigning for an Academy Award. This isn’t just a move to take home a golden statue. Winning an Oscar can translate into big money for a movie studio.
Just how much financial influence can the Oscars have?
According to IBISWorld, the average best picture Academy Award winners between 2006-2010 saw a bump of 22.2 percent (or $20.3 million) in box-office revenue after receiving a nomination and an additional 15.3 percent (or $14 million) following a trophy.
The 2011 best picture winner, “The King’s Speech,” saw a significant Oscar bump, with 42 percent of its box-office sales coming after its nomination and 16 percent more after it won. Paramount Pictures is hoping for a big bump for Martin Scorsese’s high-budget family film “Hugo,” which grabbed 11 Oscar nominations but has been underwhelming at ticket sales.
Which movies have seen the biggest boost from Oscar? With data from BoxOfficeMojo.com,CNBC.com looked at box-office sales for best picture winners, comparing revenues before and after their win since 1982. (That’s the earliest comprehensive Oscar data available from BoxOfficeMojo.) The movies on the following list are the winners that had the largest percentage of box-office revenue after they were named best picture.
Like several on our list, many films are released on a limited basis near the end of a given year and are not widely released until the following year, and that can have a significant effect on the bump. In some cases, distributors will purposely release movies around nomination time to help maximize the Oscar boost.
Click ahead to see which best pictures have benefited the most from Oscar.
By Jill Weinberger and Joseph O'Dell
Posted 21 February 2012