The film industry looks to Oscar nominations to bring more business

An Oscar statuette sits in a display case at R.S. Owens & Company in Chicago, Ill.

TEXT OF STORY

STEVE CHIOTAKIS: In Hollywood, Oscar nominations went out this morning. The Academy Awards will be broadcast in about a month. So let the hype begin! As a group of multi-billion dollar businesses, the film industry looks to Oscar for help in bringing in more studio money.

Nicole Sperling writes for the Awards Tracker at LA Times and she's with us this morning. Good morning Nicole.

NICOLE SPERLING: Good morning.

CHIOTAKIS: What does it mean for a film to get nominated, money-wise?

SPERLING: Well it often depends on what time in the cycle when the film get's the nominations. There usually is a bit on an uptick as far as the grosses go from all those audience members that wait to see who the Oscar nominated films are and then run out to the box office to see it. But some of the movies have already, you know, come out, have had their whole run and are already in DVD like "The Social Network." So it kind of depends.

CHIOTAKIS: And they are re-releasing "The Social Network," right?

SPERLING: Yeah.

CHIOTAKIS: So what about the movies that were released this month in January?

SPERLING: Well, you know there's room for all those movies. and January isn't always a huge movie-going month anyway. And you have things like "The Green Hornet" out and Natalie Portman's "No Strings Attached" so there's definitely room for some prestige pictures in that mix too.

CHIOTAKIS: Obviously an Oscar nod adds to the wow factor of a film. What about the rest of the staff, crew members, production team? Does it ripple into bigger careers for them?

SPERLING: Oh sure. I mean those guys are being reward for their work and getting those nominations puts them at the top of the heap and it helps when they're going out to get their next jobs.

CHIOTAKIS: They put that on their resumes.

SPERLING: Exactly.

CHIOTAKIS: Alright, Nicole, Sperling we appreciate it. From the LA Times, she writes the Awards Tracker column there. Nicole thanks.

SPERLING: Thank you.


CHIOTAKIS: For more on what an Oscar means for those working on-location, check out our website Marketplace.org.

About the author

Steve Chiotakis was the host of Marketplace Morning Report until January 2012.

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