The 2020 Oscars telecast is on Sunday, Feb. 9 on ABC at 8:00 p.m. EST/5:00 p.m. PST. For the second year in a row, the Oscars will not have a host.
According to WalletHub, the 2020 Oscars ceremony costs a whopping $44 million. The $16,500 square-foot red carpet alone costs $24,700 and requires around 18 workers to install.
It’s no surprise that the Academy Awards means big money. Hollywood spends over $100 million each year lobbying during awards-season. A 30-second commercial during the Oscars costs $2.6 million or more (though that’s 54% less than the Super Bowl).
Oscars awards can be linked directly to increased income. A Best Picture winner generally sees a $15 million increase in box office sales and a Best Actor/Actress will make 20% more on their next film.
Los Angeles gets an annual economic boost of $130 million from the Oscars.
Netflix had a successful Oscars nomination performance with 10 nominations for “The Irishman.”
The 2020 nominees for Best Picture are:
- Ford v. Ferrari
- The Irishman
- Jojo Rabbit
- Little Women
- Marriage Story
- Once Upon a Time in Hollywood