How much money is an Oscar award worth and how much does it weigh?
Despite the eleborate ceremony the Academy Awards' financial value to winners does not come as prize money, but as a career-long earnings boost and lavish gift bags.
The Oscars is the most glamourous night in the Hollywood calendar, a star-studded gathering of the most famous and celebrated people in the movie industry. It has a reputation as a lavish no-expense-sparred affair but the truth is that the winners do not receive a cash prize to go with the iconic Oscars statuettes.
But despite there being no payment for the winning nominees, there are numerous other ways in which attendees will benefit from the night. An Academy Award typically leads to bigger contracts for future roles and luxurious gift bags are an Oscars Night tradition.
How much is the Academy Awards trophy worth?
Winning an Oscar is often referred to as a ‘priceless’ moment, but Cinema Blend have estimated the price of manufacturing the gold-plated statuette at about $400. The figures were originally gold-plated bronze but, aside from a few years of plaster alternatives during the Second World War, they are now made from a cheaper metal with gold plating.
This means they would not be worth much if melted down and they would be worth even less if a recipient tried to sell one. The Academy of Motion Picture Arts and Sciences (AMPAS) include a rule that before any Oscars award is put up for sale it must first be offered to the Academy for $1.
The figure itself may not be worth a huge amount to the winners but the reputational boost that it provides is worth millions of dollars. Money Nation report that the career salary boost after winning an Academy Award can be worth up to $120 million over the course of the recipient’s lifetime. They estimate that post-Oscars earnings are typically around 60% higher.
What is in the 2021 Oscars gift bags?
The attendees at the Academy Awards include some of the most well-known and influential people in the world, a fact that is seen as a goldmine for commercial interests. In recent years the tradition of Oscars gift bags has grown into huge marketing mechanism providing complementary treats worth more than some houses.
This year Distinctive Assets, an entertainment marketing firm, will be offering gift bags to all 25 acting and directing nominees worth an estimated $205,000 each. The lavish hamper includes gold-plated cannabis vaporisers, vegan bubble bath, designer skin creams and a free course of liposuction.
In return, the recipients are expected to post something on their social media accounts to thank the brands for their freebies. The companies involved are hoping to earn their products a greater audiences and a bit of the Hollywood glitz and glamour form the association with the Oscars, something that seems to work.
Lash Fary, the founder of Distinctive Assets, said recently: “Celebrities are the best brand ambassadors in the world, and this is a win-win for everybody.”
How much does an Oscar weigh?
The annual footage of trophy-laden celebrities attempting to conduct post-ceremony interview with their Oscars trophy in hand makes clear that the statuettes are a fairly heftly prize. Winners often joke that the golden-plated figure gives them a good arm workout, but how much do they actually weigh?
The Academy Awards' official website states: "Oscar stands 13½ inches tall and weighs in at a robust 8½ pounds.... Although the statuette remains true to its original design, the size of the base varied until 1945, when the current standard was adopted."