The strategy behind the world’s most important film industry awards has a lot to do with marketing and advertising. From the brands displayed on the red carpet to all the commercials aired during the ceremony, the gift bags for attendees, and the sponsors. Here are some examples:
- The Oscars have become a marketing celebration, standing out for their influence on fashion trends, the nominated movies and their increase in money collection, plus the positioning of brands -among others.
- In 2022, the airing of a 30-second spot during the ceremony cost on average USD 1.7 million, but some reached 2.2 million.
- After the 2022 awards ceremony, Will Smith’s favorability in the U.S. went from 80% to 50%.
- The 2022 broadcast reached -on average- 16.5 million viewers; 5 million more viewers than the previous year.
- Studios spend around USD 10 million to pressure Oscar voters. And, according to the New Yorker, that figure can reach USD 15 million.
- When a movie wins, its Google searches can increase up to 70%.
- Real-time marketing is done through Twitter, where people participate by leaving their comments and joining the trends.
It’s an event that generates significant profits for the film industry and influences consumers to increase revenues in movie theaters and now also in streaming platforms. The film industry continues being an important cultural and artistic medium, but also a medium for product placement that attracts the masses!
Sources: Statista – Vox – New Yorker
