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Do Businesses Profit from the Oscars?

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  • Description

    Matt Lashey explains how an Academy Award can translate to big profits for the winners.

  • Duration 4:06
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This transcript is automatically generated

-- she's with a -- now vice president innovation.

Dramatic Douglas out in LA did you like you're.

I'll I enjoyed it tremendously I thought Billy Crystal did a great job he wasn't trying too hard right.

You know we came in at the last minute and so -- his -- and was was great.

Right and I enjoyed -- And I'm glad he did actually because -- -- I know there was a lot of hesitation for him to take.

Take on the role again because he had done and I think what since he does.

-- -- Now it's definitely been a while they -- a -- had originally slated Eddie Murphy right.

To -- in that part but does so I think they definitely benefited from bringing back Billy Crystal for sure still.

None of the nine nominated pictures this year from movies for best picture where the highest grossing.

-- -- people saw the artist right the artist was you know as frail and doesn't know a silent film.

That's something you -- to go see and yes isn't yet this movie won best picture of the year certainly did not gross debt hikes -- money.

Right in fact all -- -- -- nominations.

Were at glad they've earned less than half of what the ten nominations -- last -- going into the Oscars.

Some of the top ten grossing films like Harry Potter transformers.

They received nominations for some of the more ancillary type towards likes sound editing individual visual -- things are important to the industry.

But these nine nominations.

Were -- was certainly.

In need of something like -- their nominations definitely.

Increased interest at the box office amongst moviegoers to see the films and the talents being honored.

So and and and with that what will definitely see with the artists when we'll probably see another -- in box office revenues as well.

You know there's a ton of movies rate that are not gonna recoup their initial investment in their domestic box office receipts.

So what do they do do they rely -- nontraditional sources do they rely on overseas right.

-- right -- so and movie studios do not typically recoup their investment through domestic box office revenues.

Alone and then many in that that might be a surprise to some.

With in the production budgets in the marketing dollars that -- cost to promote a movie.

They typically need to look outside of those nontraditional sources to make -- revenues also things like downloading streaming dvds.

I was talking with a friend the other day and I was telling them that.

I've spent more money watching movies on my iPad on airplanes and I have actually spent seeing movies in the theaters themselves.

So I would challenge movie studios and that that teens and -- surrounding that a bit better with those teams to think of to think outside of the box to think creatively.

So that they're not just focus on those traditional sources of revenue.

Is is then if that's the problem -- Hollywood is a little bit behind me fall as far as technology doesn't mean music industry certainly was or I feel is right.

So it is that right problem.

Gathered there are behind that they make so much money -- the problem is that there's so much at stake.

But these.

Nontraditional.

Revenue streams the proliferation of technology.

And delivery platforms and a lot of other extort external forces that are -- play.

They've come with a lot of opportunity they come with opportunities to make more money.

But there also at the same time making it harder and harder for these studios to compete in their putting those traditional -- revenue Steve streams that at stake.

-- -- for instance on the on these mobile platforms I can choose to watch movies or can choose to play games so lot of studios are taking that into account there.

Taking con tent that was initially intended for movies and and capitalizing on the gaming opportunities marching up merchandising opportunities.

-- as as you may well know -- become a huge boon for our lots of Citi just like a lot of money and it's not just people buying -- dates they're actually spending real dollars to buy virtual items within those games and there's a lot of ancillary revenue new.

Strings attached with these types of things yes.

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