Best Picture Nod Brings $6.7M Boost

Advertising is expensive, but nominations can pay off big for studios

By Katherine Thompson, Newser Staff

Posted Jan 23, 2009 1:40 PM CST

(Newser) – With studios shelling out huge bucks to push their films on Oscar voters—Frost/Nixon probably dropped hundreds of thousands for a few days of spreads in the Hollywood papers—could such ad blitzes actually pay off? The answer is yes: A best picture nomination is worth at least $6.7 million, write Chadwick Matlin and Chris Wilson for Slate's Big Money blog.

The crucial calculus depends on stirring up renewed buzz, adding (or returning) the nominated film to more theaters, and sending stars on another round of talk show appearances. "A best picture nomination is the equivalent of cinematic Viagra," Matlin and Wilson write. "If your box office stamina lasts longer than four weeks, please consult a physician."

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[Videos (1)]

A roadside vendor sells sweetmeats, as a man rests on a wall with posters of "Slumdog Millionaire," and its Hindi version "Slumdog Crorepati," a film set amid the fetid alleys of Mumbai. (AP Photo/Rajesh Kumar Singh)

Unfortunately for Paramount, the profile of its Oscar-nominated 'The Curious Case of Benjamin Button' is already so high, the extra boost from its Best Picture nod might not amount to much. (AP Photo/Dan Steinberg, file)

The studio behind 'Frost/Nixon' dropped huge sums of money to advertize in Hollywood trade papers in hopes of securing a Best Picture nod. (AP Photo)

'Milk' will see a boost in ticket sales after its Best Picture nomination, but how much has the studio already spent on promoting its film to Oscar voters? (AP Photo)

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A review of "Gran Torino," which didn't receive a Best Picture nomination despite mounting an aggressive advertising campaign. (myinboxnews)

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Best Picture Nod Brings $6.7M Boost