The cost of an Oscar

A recent article I read by Forbes magazine discussed the cost of films that have won the Oscar for Best Picture. The average cost to produce a film is $41.7 million. The average cost of films which have won the Oscar for Best Picture is only slightly more at $47.2 million. It goes to show that a film doesn't have to have a huge budget in order for it to be the best movie of the year. There are a few exceptions when a film with an enormous budget wins the award, such as Lord of the Rings: Return of the King at $97.2 million , Gladiator at $130 million, and Titanic at $280 million. Films like this generally win the award based on advancements made in the show which redefine filmmaking. (Personally, I think the only reason Titanic won any awards is because they wasted.. I mean spent so much money.)

1 comment:

Dr. Tufte said...

-1 for no link in Scott's post.

It's been known for a long time that expensive movies are not much more likely to win Oscars.

There is an article in the February 25 Wall Street Journal which shows that a regression with just three variables (Oscar nominations, Golden Globe awards, and dummy for whether or not the movie was a comedy) can predict 90% of the best picture awards. It is picking "The Aviator" for this year.

P.S. I, for one, thought "Titanic" deserved every award it got.