The Academy of Motion Picture Arts and Sciences saw a surge in award earnings last year, but the Academy’s annual report shows that recovery in investment returns boosts finances despite viewers looking away from the Oscar show. Was done.
According to a report posted on Saturday, award-related revenues were down 10.8 percent from $ 131.9 million for the fiscal year ended June 30, 2020 to approximately $ 117.7 million. Access to the electronic municipal market Bond monitoring website.
Revenue declines for April 25 Oscar broadcast viewers ABC The number decreased by 56% from 23.6 million in the previous year to about 10.4 million. Award revenues have fluctuated in recent years after increasing each year for decades. However, last year’s decline was unusually steep. The award’s total revenue was less than about $ 120 million with the guarantees previously reported by the Academy for ceremonies such as ABC.
However, the Academy’s revenue from the $ 79.2 million investment portfolio increased about 14-fold from $ 5.1 million to $ 70.3 million, compensating for the decline in awards.
Award-related costs increased only slightly over the year, despite the cost of Covid-related measures and the move to Union Station in downtown Los Angeles, from about $ 42 million in the previous year to $ 42.9 million. became.
According to the report, the Academy’s total wealth increased by about 6.7% from $ 1.34 billion to $ 1.43 billion.
Membership has grown significantly over the past few years, but total membership fees and theater rent revenues for 2021 have fallen slightly from $ 4,073,800 in the previous year to $ 3,979,000.
Oscar’s earnings have been hit, but investment has increased, the Academy Report said – deadline
Source link Oscar’s earnings have been hit, but investment has increased, the Academy Report said – deadline