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Michael Cieply: Deal Anxiety – Why The Oscar Bump Isn’t Enough
The Oscar audience was up slightly, but an Academy looking toward new long-term contracts needs more.
It delivers about $110 million to the Academy annually, which is roughly 75 percent of the group’s Oscar related revenue, far exceeding income from foreign television or various fees. The ABC contract pays the bills, not just for maintenance of the film Academy and its awards show, but for the adjoined movie museum, whose ticket, merchandise and membership sales don’t come close to off-setting costs. In fact, it’s the ABC contract, with its rock-solid annual guarantees, that gave the Academy enough financial stability to borrow hundreds of millions of dollars for museum construction, through bonds some of which will be outstanding into the 2040s.
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