Seeking to safeguard its future in a world where the Oscars have lost some of their ratings luster, the Academy of Motion Picture Arts and Sciences announced Friday a new $500 million global campaign aimed at extending the influence of the organization worldwide and diversify its sources of income. .
The Academy100 campaign announcement, made during a press conference at Rome's legendary Cinecittà Studios, represents a strategic push to bolster the academy's financial stability and enhance its global stature as it approaches the milestone of its 100th ceremony. of the Oscars in 2028. Historically, the nonprofit organization's financial health has been closely tied to its flagship awards show, which draws a smaller audience in today's fragmented entertainment landscape than in decades past.
According to the academy, support for the Academy100 campaign will fund and fund a variety of programs aimed at recognizing excellence in the art of film, preserving film history, training and educating young filmmakers, and facilitating the creation of film exhibitions, screenings, and publications. . More than $100 million has already been pledged to the campaign, with significant contributions from the academy's long-time partner Rolex.
“The Academy's future is global and Academy100 will deepen our global reach and impact,” academy CEO Bill Kramer said in a statement. “Like all healthy organizations, the academy needs a diverse and sustainable support base, and we are deeply grateful to Rolex and all our partners for helping us launch this important and forward-thinking initiative.”
As the academy looks toward the end of its current television contract with ABC in 2028, the need to explore alternative revenue sources has become more urgent. Boosted by last summer's “Barbenheimer” phenomenon, this year's Oscars attracted 19.5 million viewers, a 4% increase from 2023, but still less than half of the 40 million that They tuned in a decade ago. With the new Academy100 campaign, AMPAS is proactively looking to create new revenue streams that could be less reliant on the streaming model and more resilient to ongoing changes in the way audiences consume entertainment.
The global push comes as the organization itself expands its focus far beyond Hollywood. Since the #OscarsSoWhite storm in 2015, the academy has diversified its historically white male-dominated ranks largely by expanding its reach overseas, growing its ranks from fewer than 6,000 voting members in 2012 to more than 10,500 today. More than half of the most recent guests were from outside the United States.
With an eye toward that global membership, the academy plans to implement a series of events and educational programs aimed at fostering community participation and nurturing new talent in major cities outside the United States, including Buenos Aires, Cannes, Johannesburg, Kyoto and London. Such shows could boost international interest in the Oscars and other academy initiatives and help offset any potential decline in domestic viewership.
The Academy100 campaign follows an earlier, equally ambitious fundraising effort to finance the construction of the $482 million Academy Museum of Motion Pictures, which opened in September 2021 after years of delays and budget overruns. Starting in 2027, the museum will launch a series of special exhibitions, film programs and publications related to Oscar history ahead of the awards' centennial.
Kramer highlighted this pivotal moment in the organization's long and storied history, saying, “The academy will soon enter its second century and we want to ensure we remain the preeminent leader of our international film community.”
