Monday, March 8, 2010

Oscar doesn't matter that much?

According to a piece in this morning's USA Today, The Hurt Locker's best picture win doesn't mean a big financial boost. In fact, after working in marketing costs and movie theaters' cut from the box office revenues, author David Lieberman projects that the film will "be marginally profitable at best." Also, according to Rutgers Business School's S. Abraham Ravid, "The publicity from being nominated for an Oscar is 'more valuable financially than actually winning,'" and "'Award winners do not increase revenues' for the films in which they star."

So what does this mean for advertisers? Maybe it isn't so important for a product or a brand to tie itself to an Oscar winner; being connected with one of the nominees in future projects might just be enough. It looks like Oscar buzz has quite a bit of staying power...