The 98th Academy Awards are just around the corner, set to seize place on March 15th. While viewership has shifted from a peak of 55 million in 1998 to 18 million last year, the Oscars continue to hold a significant place in popular culture. But what accounts for this enduring influence, and how is the Academy adapting to a changing media landscape?
The awards remain a pivotal moment for those recognized, impacting careers and box office success. Beyond the films themselves, the Oscars have evolved into a cultural event encompassing fashion, social media moments, and broader entertainment industry prestige. Understanding why people still care about the Oscars requires examining its impact on the industry and its ongoing efforts to stay relevant in the age of streaming.
The Oscar Effect: Career Launchpad and Box Office Boost
According to film professor David Tarleton, chair of the film and media arts department at Syracuse University, the Oscars’ cultural power stems largely from their impact on the careers of winners. “It makes people’s careers,” Tarleton explained. “There are lots of cases of people where the Oscar is central to why an actor or filmmaker had the career they did. Frankly, even being nominated for an Oscar makes an enormous difference in terms of box office.” An Oscar win can significantly increase an individual’s earning potential, potentially doubling their salary or more for subsequent projects.
Tarleton highlighted the transformative effect the awards can have on smaller films. The 2022 film Everything Everywhere All At Once, which started as a relatively slight project, gained widespread recognition and ultimately won seven Oscars, catapulting it to indie hit status. “It was in the context of the Oscars that it became as sizeable as it did,” he said.
Beyond the Films: A Multi-faceted Cultural Event
The way audiences engage with the Oscars has evolved, extending beyond the films themselves. Tarleton notes that many viewers now tune in for the surrounding elements – the red carpet, fashion, memes, and social media highlights. “There’s all these other components to it,” he said. “The movies themselves are only part of it.” This broader appeal contributes to the event’s continued relevance, even for those who haven’t seen all the nominated films.
However, a generational divide is too apparent. Tarleton draws a parallel to the cultural shifts of the 1960s, noting a significant difference in media consumption and celebrity recognition between younger and older audiences. “There’s this enormous difference between younger people and older people in terms of media consumption and who is famous to you?” he explained. This shift reflects a broader change in the film industry, with declining theatrical attendance and the rise of streaming services fundamentally altering how people relate to movies.
Navigating the Streaming Era and Maintaining Exclusivity
Despite the growing popularity of streaming, the Academy currently requires a theatrical release for films to be eligible for awards. Tarleton doesn’t foresee this requirement changing soon, as it contributes to the perceived exclusivity of the Oscars. “I witness the Academy more likely wanting to limit eligibility to theatrically released films more, to make it a little bit harder probably, rather than easier,” he stated. The challenge, he points out, is whether maintaining this requirement will further diminish the Oscars’ relevance as more people opt to watch movies at home.
The Academy is actively working to adapt. Starting in 2029, the awards present will be exclusively streamed on YouTube. Latest categories have been added, and there’s a focus on pacing and creating moments that resonate on social media. The Academy has also become more inclusive, with an increasing number of non-English language films receiving nominations, reflecting changes in Academy membership and voting practices.
The Academy’s membership, traditionally older and artistically conservative, has been diversifying through initiatives like the #OscarsSoWhite campaign, bringing in new perspectives and broadening the range of films considered. “There’s been a number of things that have opened up the Academy to a more diverse group of people, and that really helps in terms of the kind of work that’s being seen,” Tarleton said.
While viewership numbers have declined, Tarleton believes the Oscars still hold significant cultural prestige and glamour. “There’s no question that viewership is less in terms of real numbers, but it doesn’t mean that it’s not still significant in terms of cultural prestige or the aura around it,” he said. “Hollywood is very good at selling glamour.”
The future of the Oscars will depend on the Academy’s continued ability to adapt to a changing media landscape and connect with new audiences. As the industry evolves, the awards show will need to balance its tradition of honoring cinematic excellence with the demands of a modern, digitally-driven world.
What will the Academy’s next steps be to attract younger viewers? Share your thoughts in the comments below.
Disclaimer: This article provides information for general knowledge and informational purposes only, and does not constitute professional advice.
