You may have followed Oscar particular films for some time now. And you might still wonder what is the meaning of Oscar Halo. Did you know that the awards and nominations can determine where the money goes in the film industry?
The film awards are indeed the prestigious achievements embraced and enjoyed by every filmmaker who deserves to have the trophy. It is a trophy to appreciate their hard work in the film industry.
Besides marking the names of the filmmakers and the talents, it also has irresistible financial perks for the awards holders.
The awards can have a great number of benefits for the professionals who receive them. It will affect how greater the films will get the revenues. These awards also help actors and directors to improve their name awareness in the film industry. When they receive the rewards, they will be prepared for getting more offers, raising the fees, and so on.
Those who do not win the Oscars, but have the nominations would also attain the chances to grow. These could create extra promotions around films, directors, as well as performers.
Even the nominations could add enormous extra income made by the films. For instance, the Oscars nominations can add around 20 million dollars to the total income made by the movie. Imagine how much again added to their pocket when the film they worked on won.
Let’s take an example back a decade ago. Back then, folks projected King’s Speech to gross around USD 30 million. But after getting the Oscar nomination and taking the crown for Best Picture, then it grossed around USD 400 million.
The reason is very simple. Each film that got nominations and awards, it will attain more exposure and publicity. The viral effects of the Oscars are a huge deal. And experts called this “Oscar Halo”. The Awards and Nominations will indeed increase the value of the films. But more importantly, these will amp the names of the actors and directors up.
Although there’s no exact number confirmed by the talents, both actors and actresses will also get around 20% of raises in their pays for the next films. But it is not always happening since we haven’t figured out the exact numbers the productions offer to the talents.
For sure, the winners and nominations of Oscars will surely have greater spotlights for the next projects.
Read this too – Minari Set for the Best Picture in Oscar
