Are the Oscars Still Golden?
By Wharton
Published: March 9, 2005
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But not every Hollywood story has a happy ending: When the Academy of Motion Picture Arts and Sciences staged its televised awards show this year, the buzz surrounding the Oscars appeared to be more about the survival of the Oscars show than about the winners. In a blatant move to attract younger viewers and help revive a dwindling viewing audience, the Academy tapped popular comedian Chris Rock as host, asked pop singer Beyonce to perform three of the night's nominated songs and tried to present a shorter, livelier program. The results were mixed: The numbers of younger adults and female viewers were up to their highest levels in three years, but the overall audience of 41.5 million was still two million less than last year.

And while past Best Picture Oscar winners have traditionally witnessed a surge in box office receipts during the first post-awards weekend -- Shakespeare in Love posted a 44% gain, The English Patient climbed 50% and Schindler's List jumped 53% -- the post-Oscars box office numbers for this year's critically acclaimed Million Dollar Baby were modest: Although it won Oscars for Best Picture, Best Director, Best Actress and Best Supporting Actor, the Clint Eastwood boxing movie realized a modest 11% box office increase, taking in just over $8 million during a weekend that witnessed the $30 million opening of a decidedly mediocre babysitter comedy called The Pacifier.

All of which begs the question: Has the Oscar brand lost its luster? According to Wharton faculty and industry experts, the answer is n The brand may be tarnished, but it remains as strong as ever.

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