How the Academy Behind the Oscars Makes Money

How the Academy Behind the Oscars Makes Money [ad_1]

The Oscars might undergo from declining viewership and a down yr for movie releases limited by the pandemic. But the group that runs Hollywood’s most prestigious awards ceremony is on strong monetary floor, with a rising assortment of belongings approaching $1 billion, based on the academy and its associates’ consolidated monetary statements.

Most folks know the Academy of Motion Picture Arts and Sciences (Ampas) for staging the Oscars. Thanks to some savvy investing and constant annual income, the academy can also be a rich nonprofit with affect extending far past one red-carpet occasion.

Sagging rankings haven’t harm the revenues Ampas generates by way of its profitable U.S. and worldwide TV offers. The Oscars airs in additional than 200 international locations.

As the 93rd version of the present takes place Sunday at 8 p.m. ET, right here’s a have a look at some key numbers behind this group:

$131.9 million

Ampas’s annual awards revenues reached $131.9 million in 2020, capping a decade of sturdy development anchored by its large TV offers. The academy’s belongings grew by greater than $30 million final yr. It posted $82.7 million in revenues in 2010.

The multiyear TV deal the academy signed with ABC runs by way of 2028, which even with depressed rankings ought to preserve {dollars} flowing in the door.

Ampas usually earns greater than sufficient income to cowl bills. In 2020, the academy earned $32.7 million after bills, based on the academy and its associates’ consolidated monetary statements.

$789.2 million

Ampas boasted internet belongings of $789.2 million as of 2020. That’s due largely to its success reinvesting extra capital. The worth of its funding portfolio has greater than tripled in about 10 years. Its investments, which embody holdings in mutual and hedge funds, elevated to $635.3 million in 2020, up from $187.8 million in 2010.

450

The academy employs a full-time workers of 450 folks. Including manufacturing workers employed to tug off the Academy Awards, Ampas paid greater than $50 million in salaries and advantages in 2020. Academy CEO

Dawn Hudson

made $745,000 in 2019, based on the most up-to-date tax submitting obtainable.

$482 million

The academy can also be near opening its Academy Museum of Motion Pictures, a partly spherical glass construction positioned close to Beverly Hills whose price ticket it estimates at $482 million. The undertaking, having suffered delays and hovering prices, is projected to open in September. The 300,000 square-foot museum is designed by Pritzker Prize-winning architect Renzo Piano.

$6.5 million

In 2020, Ampas issued grants in extra of $6.5 million, which included pandemic-related contributions. Its greater than 10,000 members paid greater than $4 million in membership dues in 2020. The academy can also be the world’s largest advocate for the “art and science of the movies, including public programming, educational outreach.”

Write to R.T. Watson at [email protected]

Copyright ©2020 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Appeared in the April 22, 2021, print version as ‘How the Academy Pays The Bills.’

[ad_2]

Source link

#Academy #Oscars #Money

Related Articles

Stay Connected

3,000FansLike
1,200FollowersFollow
- Advertisement -

Latest Articles

%d bloggers like this: