Every year, I count down to one event, the exciting and always glamourous, Academy Awards. Like many other film fanatics, each year I bet on who is going to win best actor, director and the coveted Oscar for Best Film. This weekend I’m going to see a movie called The King’s Speech. While I’m sure it’s a great film, there is really only one reason I am going to see it, and that is because it is a front-runner to win this year’s Academy Award for Best Film. I have always strongly believed that if a movie has been nominated for an Oscar, it must be a brilliant piece of art that won’t waste my time or money, but it was only recently that I realized that many other people feel this way too.
Clip Retrieved from https://www.youtube.com/watch?v=0_Dw_w-Jnk8&feature=fvst
Oscar nominations are not only an honour for the nominee, they are also powerful marketing tools in the film industry. By attaching the strong Academy Award brand name to a movie, the film has a much higher perceived value to viewers. According to the brandchannel blog, Best Picture Oscar Winners made 22.2% more in box office revenue after their win. Whether or not a person actually watches the Academy Awards on television, Oscar ‘buzz’ surrounds each nominated film and brings people to the theatres. Movie-goers like myself believe that if the Academy approves, there is less of a performance risk associated with choosing to buy a ticket for that movie.
My loyal relationship with the Academy Awards’ brand has been lengthy because they have rarely let me down and have consistently delivered high quality entertainment. When deciding between two movies to watch, I almost always choose those that have won or been nominated for the Academy Awards. Let’s just hope The King’s Speech will be able to deliver equally great value so that my loyal relationship with the Oscars continues.