Explore the evolution of Oscar campaigns and the hefty investments made by movie studios to secure these prestigious awards. Discover the intriguing world of Oscar campaigning and the controversial tactics used by Harvey Weinstein. Dive into the cutthroat competition between 'Shakespeare in Love' and 'Saving Private Ryan' in the Oscars.
Oscar campaigns involve multimillion-dollar investments in marketing strategies and events to secure votes.
Despite the financial impact, studios maintain secrecy around their campaigning tactics, driven by the competitive nature of the Oscars.
Deep dives
The Evolution of Oscar Campaigning
The evolution of Oscar campaigning has transformed into a high-stakes marketing strategy, where studios invest millions in campaigns to secure Oscar wins. These campaigns involve creating powerful narratives around films, hosting events, and adhering to strict Academy regulations to secure votes. The infamous Oscar win of Shakespeare in Love over Saving Private Ryan in 1999 marked a turning point, led by Harvey Weinstein's aggressive campaigning tactics.
Financial Investments in Oscar Campaigns
Oscar campaigns require significant financial investments, with studios like Netflix allocating up to $100 million annually for campaigns alone. The campaigns have become elaborate, creatively enticing voters with various strategies to ensure films are watched and remembered. While the financial impact is tangible in theaters post-Oscar wins, the streaming era presents challenges in translating nominations into immediate income.
The Industry's Approach to Oscar Campaign Secrecy
Despite the immense financial investments and efforts behind Oscar campaigns, the industry maintains a veil of secrecy surrounding these endeavors. Studios are reluctant to openly discuss their campaigning strategies, keeping the details of spending and tactics hidden. The competitive nature of the Oscars and the desire for recognition drive studios to continue escalating their campaign efforts, as the coveted Oscar win remains a significant achievement in Hollywood.
When the 96th Academy Awards airs this Sunday, the year’s biggest films will face off to compete for the highest honor in the movie industry.
For a movie studio, winning an Oscar is a big deal — and it’s become big business. Studios spend millions on marketing, screeners and advertising in the lead-up to the Academy’s votes for a race not unlike a political campaign. It wasn’t always this way. On today’s Big Take podcast, author Michael Schulman and Bloomberg entertainment industry reporter Chris Palmeri take us to the sweet, Shakespearean rom-com that started it all and map how it led to the overheated, multimillion dollar ad blitzes we see today.