The Oscars by the numbers
The Academy announced its 2015 nominees for what has been – at least from a business standpoint – a bad year for movies.
In 2014, the overall domestic box office reported a 5 percent drop from 2013. Americans age 12 to 24 saw 15 percent fewer movies in theaters during the first three quarters of 2014, suggesting that young people aren’t interested in shelling out for feature films. The year also featured a magnificent summer slump, a reported 7-year low for domestic theater attendance.
The Academy Awards (apart from being an event where pretty people prance around in fancy clothes and clap for one another) has over the years made money for Hollywood. And it makes sense. When the winners, or even just the nominees, are announced, people want to see what all the hype is about. So they invest.
In honor of the new Oscar nominees, here are some random facts about the entertaining economic force that is the Academy Awards:
Marketplace is on a mission.
We believe Main Street matters as much as Wall Street, economic news is made relevant and real through human stories, and a touch of humor helps enliven topics you might typically find…well, dull.
Through the signature style that only Marketplace can deliver, we’re on a mission to raise the economic intelligence of the country—but we don’t do it alone. We count on listeners and readers like you to keep this public service free and accessible to all. Will you become a partner in our mission today?