Why the future of the Oscars — like movie-going itself — remains uncertain
April 25, 2021. Summarized by summa-bot.
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The Oscars have always been an ad for going to the movies, but as we head into this year's ceremony on Sunday, the future of movie-going and the Academy Awards themselves are as uncertain as they've ever been in the show's 93-year history.
New York (CNN Business)The Oscars have always been an ad for going to the movies, but as we head into this year's ceremony on Sunday, the future of movie-going and the Academy Awards themselves are as uncertain as they've ever been in the show's 93-year history.
Popular box-office hits have been few and far between when it comes to winning Best Picture in recent years, so the films that have won may not be as familiar to general audiences as they once were.
This year, five of the eight movies vying for best picture premiered via streaming, on Netflix (NFLX), Amazon (AMZN), Hulu and HBO Max, which is owned by CNN's parent company WarnerMedia.
The disruption of Covid-19 prompted the Academy of Motion Picture Arts and Sciences — the group that oversees the Oscars — to amend its rules to allow movies that premiered on streaming to compete for awards.
However, despite some big moneymakers like "Black Panther," "Mad Max: Fury Road" and "American Sniper" being nominated in recent years, Oscar's biggest prize and the box office's biggest ticket sellers haven't overlapped since the early years of this century.
As Variety noted, not a single Best Picture winner has ranked in the top 10 in global box office since the sequel "The Lord of the Rings: Return of the King" in 2004, evidence of "a growing gap between awards and the public" and a more pronounced split between commercial releases and those that captivate award voters.