2023 Oscars revenue rises, helps film academy’s bottom line – The Hollywood Reporter

Academy Museum of Motion Picture Arts and Sciences in Los Angeles, California.

Michael Buckner/PMC

This year not only saw a bump in ABC’s Oscars television ratings, but also generated more revenue for the Academy of Motion Picture Arts and Sciences, new financial data show.

Revenue from the Oscars and “related activities” rose to $143.5 million in fiscal 2023 (ending June 30), according to financial statements filed with the municipal Securities Rules Board on Friday. This is up from $137.1 million in fiscal year 2022.

This year’s Oscars telecast attracted nearly 20 million viewers, representing a double-digit increase from 2022.

Academy’s deal with Disney’s ABC and Buena Vista International (which handles international sales) is built on fixed licensing fees plus usage-based sales or royalties (which may benefit from improved ratings and ad sales), a potential source of the jump in international sales. he won.

Television handles both ABC and Buena Vista through 2028.

The financial statement also includes details about the Academy Museum, which opened to the public in late 2021. According to the documents, the museum generated revenue of $18 million in fiscal year 2023, down from $23.6 million in 2022. The museum’s expenses continue to rise. be high, even though it is declining. Museum development and operating expenses reached $80.6 million in 2023, down from $93 million in 2022.

The Film Academy’s other expenses were mostly in line with last year.

Total revenue and gifts were $230 million in fiscal year 2023, down from $288 million last year, largely due to lower cash donations and non-cash assets, offset by higher investment returns.

The Academy’s total net assets were US$856.7 million at the end of the fiscal year, compared to US$844.5 million the previous year, thanks to a strong stock market performance that saw its investments rise by US$37 million.