Why Oscar Nominations Affect Box Office Totals
The nominees for the 85th Academy Awards were announced today — and the films mentioned can expect a big bump in their box office sales. Stephen Spielberg’s Lincoln came out on top with 12 nominations, including one for Best Picture and Best Actor. Life of Pi trailed shortly behind with 11 nominations, followed by Les Miserables and Silver Linings Playbook, which each received eight.
According to a report by Randy Nelson, professor of economics and finance at Colby College, Oscar-nominated films remain in theaters for twice the amount of time, giving them a longer stretch to profit from ticket sales. But that’s not all — on average, box office revenue increases by $683,660 following a nomination for Best Actor or Best Actress and by $6.9 million for Best Picture.
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