This investigation addresses limitations associated with previous research to determine empirically the value of winning or being nominated for a Best Picture Academy Award on an film's weekly box office grosses. in addition, this study delves into yet unstudied territory by measuring how an Academy Award affects the careers of actors and actresses nominated for or awarded the Best Actor and Actress trophies for the first time. Overall, results suggest that both nominations and wins in the Best Picture category increase weekly box office grosses following their respective announcements. Unexpectedly, findings indicate that Academy Award nominations and wins tend not to presage an increase in a winner's or nominee's future film grosses. Economic implications for the film industry are discussed. Future research directions are proposed.
"Oscarnomics: Evaluating the Economic Worth of the Academy Awards,"
Fordham Business Student Research Journal:
2, Article 3.
Available at: http://fordham.bepress.com/bsrj/vol1/iss2/3