It’s called Hollywood’s biggest night — the 98th Academy Awards ceremony is underway. Tonight is when Hollywood’s best is being awarded in various categories.
However, the Oscars aren’t just about cinematic excellence. Hollywood stars have also sashayed in their fashionable best on the red carpet before the big event. Moreover, it is well-known that the Oscars represent the glitz and glamour of Hollywood, but the amount of money spent on the event might surprise you.
Glitz and glamour galore
Each year, the Oscars are held at the
Dolby Theatre in Los Angeles, and it comes with a very hefty price tag. In fact, according to WalletHub’s 2024 report, the event costs a whopping $56.9 million (Rs 477 crore). Unsurprisingly, this cost increases every year; for instance, in 2017, the cost of the Academy Awards was $44 million and in 2022, it was $56.8 (Rs 450 crore) million.
The hefty price tag of the event includes activities such as the nominees’ luncheon, the Governors awards, and the Governors Ball, the Oscars’ official after party. However, the biggest chunk is spent on the live show that is telecast across the world.
It is unknown what is the cost of using the Dolby Theatre. However, it is believed that it is part of a complex deal linked to Dolby’s naming rights to the theatre, but the Academy has a 20-year agreement.
A man vacuums an empty red carpet at the Dolby Theatre in Los Angeles, the night before the 98th Academy Awards ceremony. AP
A huge chunk of the total cost of the event actually goes towards the red carpet. And, we aren’t talking about the million-dollar ensembles that the invitees adorn, but the installation of it all. As per reports, it takes 30 rolls of carpet and an 18-person crew to install it over a span of 600 hours. This effort costs the Academy $24,700 (Rs 20.43 lakh).
Then comes the security at the event. Top-notch security is required to ensure that no untoward event occurs at the Dolby Theatre. This year, the
security has been tightened not only because of a war with Iran, but also a recent shooting at a university in Virginia and an attack on a synagogue in Michigan. Authorities have set up a one-mile security perimeter around the Dolby Theatre for the celebration. Federal and local agencies working with the Joint Terrorism Task Force are monitoring social media and gathering intelligence to prevent any security risks. And Los Angeles Police Department SWAT, bomb squad and snipers will be in the area, law enforcement sources told The Times. This sense of safety doesn’t come cheap however. The cost of security is pegged around $250,000 (Rs 2.31 crore).
There are other expenses too; the printing of the nominee cards, which in 2017 cost the Academy $10,000 (Rs 9.25 lakh) for 48 cards. There’s also the
golden statuette that each winner receives. Coated in 24-carat gold, it costs $400 (Rs 37,000) to make, but its legal sale price is only $1 (Rs 92).
A security guard stands at an entrance for the 98th annual Academy Awards ceremony in Los Angeles, California. Reuters
Your host of the night is…
Apart from all of this, the Academy also has to fork out money to the host of the event. This year, comedian and TV host Conan O’Brien will return to emcee the festivities.
While there’s no official dollar amount that’s been revealed to the public, based on previous hosts’ comments about salary, it’s likely Conan O’Brien will get paid around $15,000 (Rs 13.8 lakh) to host the 2026 Oscars.
In the past, Oscar host Jimmy Kimmel has revealed that he was paid $150,000 to host the Oscars. “You know it probably sounds like a lot for one night, but it’s months of work leading up to it. You’re getting robbed,” he was quoted as saying.
A drone view shows a large billboard sign featuring this year’s Oscar host Conan O’Brien towering over Hollywood Boulevard in Los Angeles, California. Reuters
A spread fit for actors
While celebrities are seated at the Dolby Theatre on Oscars night, they are also treated to a
sumptuous feast put together by celebrity chef Wolfgang Puck. Along with a team of 75 savoury chefs and 45 pastry chefs, Puck will serve out lavish dishes for film stars and movie-makers at Sunday’s Governors Ball, held after the Oscars ceremony.
A live izakaya station, or Japanese-style pub, and an Italian gelato machine whipping up fresh ice cream will be among the novel offerings. There’s also truffled chicken potpie, its golden pastry emblazoned with the Oscars logo. Butter-soft sashimi, cannoli filled with silken potatoes and caviar. And, of course, the signature Oscar-shaped chocolates statues, which receive a gold spray tan on site.
Master chef Wolfgang Puck cooks food next to Eric Klein, senior vice president of culinary-partner at Wolfgang Puck Catering, during a media preview of the food, beverages and decor for this year’s Governors Ball, the official post-Oscars celebration of the Academy of Motion Picture Arts and Sciences (AMPAS), ahead of the 98th Academy Awards ceremony in Los Angeles, California. Reuters
Undoubtedly, all of this costs money, with the bill running into a few hundreds of thousands of dollars.
A goodie bag unlike any other
In addition to all of this, nominees in the acting and directing categories, plus host, Conan O’Brien will take home an
“Everybody Wins” gift bag worth $350,000 each. The swag bag, curated by LA-based marketing agency Distinctive Assets, contain an iconic collection of gifts.
It includes top-notch beauty products and treatments, luxury vacations, innovative wellness products and even opportunities to give back. Celebs will have the opportunity to stay in a $9 million (Rs 74 crore) private villa in Playa Hermosa, Costa Rica at the Essence of Dreams Luxury Private Villa, complete with a concierge, chef and driver. There’s also the option of staying at the Luxury Arctic villa in Finnish Lapland with Northern Lights viewing and a private chef.
If that’s not enough of a choice, there’s a $65,000 (Rs 60 lakh) stay at a super villa in Ibiza that accommodates up to 16 people, a $50,000 (Rs 46.29 lakh) all-inclusive getaway at a Swiss chalet in Zermatt for up to 10 guests, and a 10-day wellness retreat in Sri Lanka at a Michelin-recognised resort. Oh, and a seven-day wellness retreat at the Golden Door in Southern California, in case the Sri Lanka trip wasn’t enough.
Nominees will also receive a body-sculpting liposuction experience from ArtLipo, a smile makeover package from Beverly Hills Dental Arts, facial rejuvenation procedures from a leading plastic surgeon and … a fully custom prenuptial agreement from celebrity divorce attorney Jim Sexton. The bag also includes products from Beboe, the luxury cannabis brand that’s been dubbed “the Hermès of marijuana,” plus items from other cannabis brands like RYTHM.
And wait, there’s more! The bag also contains a gold-plated cryptocurrency cold-storage wallet, a limited-edition fountain pen called “Movie Star” from BENU, designer luggage from Asia Luggage, a viral HydroJug Traveler, gourmet snacks, artisanal popcorn, luxury skincare from Glow Recipe and Danucera. And a custom residential interior design package worth up to $100,000.
The fashion of it all
While the Academy spends exorbitant amounts to make the Oscars an unforgettable night, celebrities and attendees also spend lavishly for the event.
Interestingly, if one isn’t nominated for an Oscar, one has to purchase a seat at the Dolby Theatre for the night. And these tickets aren’t cheap. In 2023, SS Rajamouli, the creator of the magnum opus RRR, spent $25,000 (Rs 20.68 lakh) for passes for him and members of his team.
Lady Gaga is all smiles as she poses with her Oscar award, wearing a Tiffany pendant worth millions of dollars. File image/Reuters
But besides the tickets, the major expense for celebrities on the night of the event is the glamourous gowns and jewels they wear on the red carpet. According to a celebrity.land report, an A-list actor could drop about $10 million (Rs 83 crore) on a show-stopping look for the red carpet.
For instance, Cate Blanchett set the record for the most expensive look ever at the Oscars in 2014 — where her ensemble cost a whopping $18.1 million (Rs 150 crore). And Lady Gaga’s Tiffany pendant that she rocked at the 2019 ceremony was valued at $30 million (Rs 250 crore). Even first-time attendees have to open their wallets wide, with an outfit potentially ringing up $266,000 (Rs 2.2 crore).
Oscarnomics at work
The Oscars cost a fortune to host — but they bring in even more. An average 30-second advertising spot on the show is going for more than $2 million (Rs 18.5 crore), reported Deadline.
Furthermore, WalletHub estimates that the annual ceremony boosts Los Angeles’ economy by an estimated $170 million, while films that win the Best Picture award get a $7.8 million average increase in domestic sales. Additionally, a win in the Best Actor or Actress category can mean a 20 per cent boost in pay for the victor’s next film.
It’s no wonder they call it show business!
With inputs from agencies
End of Article
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source www.firstpost.com ’
