Why award shows are so important for movies
). But once a film receives a nomination, it also typically gets an "awards bump" — a surge in profits from folks who trek to theaters to see what all the fuss is about.
While this income bump has somewhat diminished in the digital age, especially as DVD sales and broadcast TV licensing deals atrophy, economics researchers have found that honored filmmakers are nearly a surefire predictor for future studio revenue.
And you can do more good in the world with money than without it. Awards revenues help funnel money to films that would otherwise be forgotten and fund niche ideas that would otherwise be ignored. For example, the Oscars lifted director Debra Granik's profile and made a star of Jennifer Lawrence in 2010 when $2 million Sundance sensationended up with four nominations.
A dearth of prestigious awards doesn't take away the vitality of Adam Sandler's career-best performance in. I implore AMPAS to make more concerted efforts to diversify its membership demographics so that new stories and storytellers can be anointed in showbiz, but I cannot pretend the Oscars are irrelevant because I disapprove of their selections.
Hollywood is a business — if you want production companies, studios and distributors to back the up-and-coming filmmakers you love, then you also need to acknowledge the magnitude of the big, lumbering players who keep the money rolling in.
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