2024 Oscars Boost Film Academy Bottom Line, But Museum Revenue Fell

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As a seasoned gamer who’s seen more than a few movie marathons and Oscar ceremonies, I must say, the financial success of the Academy Awards is music to my ears – or should I say, the sound of coins clinking? The surge in ratings and revenue this year has been impressive, especially considering the challenges posed by the pandemic.

This year’s Academy Awards telecast on ABC reached a post-pandemic peak of 21 million viewers, according to recent ratings, significantly boosting the Academy of Motion Picture Arts & Sciences’ finances.

As reported by AMPAS’s financial records submitted to the Municipal Securities Rulemaking Board, the Academy Awards and associated events generated a revenue of approximately $146.6 million during their fiscal year 2024, which ended on June 30. This represents a minor increase compared to the $143.5 million earned in fiscal year 2023, while the previous fiscal year saw earnings of around $137.1 million.

The Academy of Motion Picture Arts and Sciences categorizes its Academy Award earnings to include funds from TV broadcasting rights, sponsorships, ticket sales for screenings, and income stemming directly from the awards ceremony and the Governor’s Ball event.

The Academy’s television agreement with Disney’s ABC and Buena Vista International, responsible for global sales, is structured on a basis of fixed licensing fees, along with royalties that increase based on ratings and ad sales performance (a factor contributing to the revenue growth).

The TV deals with both ABC and Buena Vista run through 2028.

In 2024, the Academy observed a significant increase in their investment’s worth, climbing from $36.9 million in 2023 to an impressive $66.7 million.

Despite an upward trend, it seems the income tied to the Oscars might be gradually decreasing, with a significant question mark over the license fee when either Disney renegotiates or the awards program considers moving elsewhere. At present, the Oscars aren’t available for online streaming, and both Disney and the Academy would likely benefit from such an option (the latter especially, aiming to attract a younger demographic). However, it’s uncertain if this potential move would lead to a higher fee, given the decline in viewership we’ve seen recently.

After an initial surge following its debut, it seems that the Academy Museum has begun to stabilize. It’s now widely recognized as a popular venue within the film industry for screenings and events.

In the year 2024, the Academy Museum brought in approximately $15.3 million in earnings, which is a decrease compared to the previous year’s earnings of $18 million. The earnings were derived from ticket sales, sponsorships, and income generated from events. On the positive side, membership revenues slightly increased from $4.9 million in the previous year to $5.5 million.

Last October, I found out that my favorite film academy had to let go of around 2% of their staff due to some changes. From the documents I saw, it seemed like a few high-ranking positions, such as Vice Presidents, were no longer in existence since last year. Additionally, their museum got a new leader.

Despite facing some complaints concerning certain exhibits, the Museum continues to attract top-tier celebrities for its highly-acclaimed annual fundraising event.

Regarding financial expenditures, the cost for hosting the Academy Awards increased slightly from $56.6 million to $57.7 million. Meanwhile, the Academy Museum managed to keep its expenses steady at $50.9 million since 2023, following a period of continually rising costs.

In 2024, the Film Academy‘s total earnings reached an impressive $263 million, a substantial increase from the $225.6 million earned in 2023. This growth can be attributed to their strategic investments.

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2024-12-03 20:25