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Do Oscar winners make money? How much is a statuette worth?

2022-03-27T21:41:26.691Z


Nothing in Hollywood compares to taking home an Oscar. But have you ever wondered if there is any financial prize in addition to the statuette?


The 5 movies with the most Oscars in history 0:48


(CNN Spanish) --

Without a doubt, the most important award for Hollywood film productions is the Oscars.

The Oscar Awards have been held annually since 1929. This year, the 94th Academy Awards will take place on March 27 at the Hollywood & Highland Center's accustomed Dolby Theater.

In the 2022 edition, as well as in all installments, the Oscars have among their nominees great productions such as

Dune

or

The Power of the Dog

(the latter is the film with the most nominations this year, with a total of 12).

However, whether they are large, medium or small productions, the goal is the same: to take home the Oscar.

Or is there perhaps a hidden goal behind the scenes, such as an economic incentive?

Do Oscar winners make money?

Actually, the Academy of Motion Picture Arts and Sciences (AMPAS), organizer of the Oscars, does not give any financial incentives to the nominees or the winners.

Thanks to public recognition, they are awards that focus on recognizing artistic and technical achievements.

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"Its long-recognized prestige within the film industry has grown over the years because the public recognizes the Oscar as an award based solely on artistic and technical achievement, and because care has been taken to preserve the integrity of the Oscar symbol", states the AMPAS in its official regulations.

  • Why are the Oscars called that?

    Where are you from?

However, beyond the AMPAS, there is a prize that as such is not cash but can translate into several thousand dollars.

Since 2003, the marketing company Distinctive Assets has awarded a gift bag to the nominees in various Oscar categories, especially those for best actresses and actors, whether they are main or supporting actors.

(This company is not related in any way to AMPAS).

At the 2022 edition of the Oscar Awards, Distinctive Assets celebrates 20 years giving out this bag of gifts, and this year it will include everything from plots of land in Scotland by Highland Titles, to an all-inclusive stay for two at Turin Castle in 10 rooms located in this European country.

The actors and actresses who were chosen to receive the gift bag this 2022 are the following: Javier Bardem, Benedict Cumberbatch, Andrew Garfield, Will Smith, Denzel Washington, Ciarán Hinds, Troy Kotsur, Jesse Plemons, JK Simmons, Kodi Smit- McPhee, Kenneth Branagh, Paul Thomas Anderson, Jane Campion, Steven Spielberg, Ryûsuke Hamaguchi, Jessica Chastain, Olivia Colman, Penélope Cruz, Nicole Kidman, Kristen Stewart, Jessie Buckley, Ariana DeBose, Judi Dench, Kirsten Dunst, Aunjanue Ellis.

If you want to know the categories in which each of them are nominated, we leave you this video:

These are the nominees for the Oscars 2022 6:48

  • Oscar 2022 nominations: the complete list by category

How much is a statuette worth?

The Oscar that the winners receive is estimated to be worth around US$400.

Does this mean that if they sell the statuette, they will receive that amount, or can they get more money?

The answer: neither one nor the other.

The AMPAS regulations clearly indicate, in point 10 of the "COPYRIGHTS AND TRADEMARKS" section, that the statuette cannot be sold or disposed of by law "without first offering it to the Academy for the sum of 1 dollar."

So, for commercial and copyright and brand protection reasons, the oscar is worth US$1. Selling the statuette doesn't seem like such a lucrative business now, does it?

Source: cnnespanol

All news articles on 2022-03-27

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