The Academy Awards is big business for everyone involved from the people making the films to the advertisers hawking their products within the popular broadcast.
Oscar winners will get an extra bonus this year: Rising gold prices mean the 24-karat gold plated Oscar statue is worth a lot more than last year.
Though CNBC's Julia Boorstin will be covering the glitz and glamour of the awards ceremony in Los Angeles Sunday Feb. 24, we wanted to take a special look at the money side of the event.
Walt Disney’s ABC network, which is airing the event, is charging 7 percent more this year for a 30 second commercial than last year. Walt Disney is expected to bring in $85 million from ad revenue. The program appeals to advertisers, says Jon Swallen of TNS Media Intelligence, because of the wide audience which "makes it an attractive platform for advertisers, particularly if they want to launch -- in a big way -- a new campaign, brand or new idea."
The Oscar Bump
An Oscar win can mean as much as a 30 percent revenue increase over the life of a film. “Smaller films generally get a larger bump in public recognition,” says Hal Vogel of Vogel Capital Management, and an increase “in sales of DVDs and international sales."
Unknown Oscar Stars: Accountants
Rick Rosas and Brad Oltmans, accountants at PriceWaterhouseCoopers, are the only two people who know the Oscar winners before the show. They spend three days hand counting “in a secluded conference room at an undisclosed location” says Oltmans. And security is tight: One of LAPD’s finest shadows them all day until the best picture is announced at the show.