3/02/2005

The worth of an Oscar

I just saw this article that discusses how an Oscar can impact the career of its winner. It evaluates what it might do for someone like Jamie Foxx compared to Hillary Swank, who took home Best Actor and Best Actress Academy Awards, respectively. Foxx's ability as an actor combined with his new Oscar will likely double his earning power, while Swank, who has taken home her second Oscar in five years, will probably have a tougher time defining herself beyond the tomboy roles she has often played. Also discussed are historical examples of how Oscars affected the earning power of people such as John Wayne and Gene Hackman.

5 comments:

Nick said...

It is like any other industry if you have the training and experience you will always get the better jobs that will pay more. The Oscar is just a way to show that you have the ability to do the job and to do it well.

trudy said...

I don't think that it is just like any other industry. Granted in most industries you are better off with experience in that field, but I don't think that an Oscar shows talent. I think it has a lot to do with the luck of being in the right place at the right time. If there were a year without any good movies or actors the should there be an Oscar?

Dr. Tufte said...

I'm dubious about this sort of effect. I just don't see people going to see a particular star in a movie because that star won an award for some other movie in the past. If that doesn't hold, then there is no effect from the Oscars.

My guess is that this is proxying for omitted variables.

Jordan said...

Dr. Tufte said:

"My guess is that this is proxying for omitted variables."

I couldn't get the link to the article to work, but I think I get this gyst of the article from the original post. My feeling is that while the general public may not necessary value Oscar awards in their movie choices, movie directors probably do when it comes to their choice of actor. More awards suggests more quality acting. So they are willing to pay a premium for a better actor.

Dr. Tufte said...

I think they are proxying for things like looks: it just isn't that easy for a Kathy Bates to win an Oscar.