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Oscars Awards 2024: How Much Money Do Oscar Winners Get?

The biggest stars of the international film industry will gather at the Dolby Theatre at Ovation Hollywood on March 10 for the 2024 Oscars. Here’s how much money do Oscar awardees get after their win.
Oscars Awards 2024
Oscars Awards 2024: How Much Money Do Oscar Winners Get?
The 96th Academy Awards or the Oscars are here, with comedian Jimmy Kimmel hosting the grand ceremony. But how much money do Oscar 2024 winners get after their achievement? Let's find out!
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The 96th Academy Awards are here, and comedian Jimmy Kimmel will host this year’s ceremony. Some of the top nominated movies in 2024 are ‘Oppenheimer’, ‘Poor Things’, ‘Killers of the Flower Moon’ and ‘Barbie’. The “Big Five” Academy Awards include Best Picture, Best Director, Best Actor, Best Actress and Best Screenplay.

The biggest stars of the international film industry will gather at the Dolby Theatre at Ovation Hollywood on March 10 for the 2024 Oscars. The ceremony will kick off at 4 pm PT (an hour earlier than usual) and is expected to run for three and a half hours. ‘The Oscars Red Carpet Show’, hosted by Vanessa Hudgens and Julianne Hough, will kickstart at 3.30 pm.

As per Academy regulations, award winners are “not allowed to sell or otherwise dispose of the Oscar statuette, nor permit it to be sold or disposed of by operation of law, without first offering to sell it to the Academy for $1.00.”

Do Celebrities Get Paid for Winning an Oscar Award or Receiving a Nomination?

No, Oscar winners do not directly receive a cash prize for the award win. While winners don’t receive a cash prize for an Oscar nomination or win, they get goodie bags and major career boosters. Winning an Academy Award is considered a significant honor within the international film fraternity.

Not only does the Academy acknowledge the best film or actor, but other key film categories, such as costume design, writing, screenplay, and cinematography, also get recognition for their contribution to films. 

How Much do Actors Get Paid for Winning an Oscar?

Celebrities do not get a direct cash prize for lifting the 13-and-a-half-inch tall golden statuette. Similar to Super Bowl Halftime performers, Oscar winners don’t receive a cash prize the night they take home the award.

However, after receiving lucrative film offers and advertisements, they eventually witness a boost in their net worth. Winning an Academy Award fetches tremendous financial gains in terms of impressive projects.

Academy Award winners in the top categories, including Best Actor and Best Actress, also tend to receive a 20% pay increase for their next film, according to reports.

It is typically called the “Oscar Effect”. This means that Oscar winners become highly desirable for directors and studios. As a result, they are in demand and are offering more money for future films. 

Oscar Award Winners list 2024

CategoryWinner
Best PictureOppenheimer
Best DirectorChristopher Nolan (Oppenheimer)
Best ActorCillian Murphy (Oppenheimer)
Best Supporting ActorRobert Downey Jr. (Oppenheimer)
Best ActressEmma Stone (Poor Things)
Best Supporting ActressDa’Vine Joy Randolph (The Holdovers)
Best Animated FeatureThe Boy and the Heron
Best International FeatureThe Zone of Interest
Best Documentary20 Days in Mariupol
Best Original Song“What Was I Made For?” from Barbie
Best Original ScreenplayAnatomy of a Fall
Best Adapted ScreenplayAmerican Fiction
Best CinematographyOppenheimer
Best Original ScoreOppenheimer
Best Film EditingOppenheimer
Best Costume DesignPoor Things
Best Production DesignPoor Things
Best Makeup and HairstylingPoor Things

What do the winners of the Oscars 2024 win?

Winning an Oscar means a lot more than just taking home the gold statue. Sure, there’s no cash prize, but the prestige and recognition are priceless.

Think of it like the ultimate nod of approval from the film industry. Plus, nominees get this amazing “Everyone Wins” gift bag filled with over 50 luxury items worth over $100,000.

From high-end skincare to gadgets and even a wellness retreat in Switzerland, it’s a treasure trove of goodies.

So, while the bank balance might not see a direct boost, the glow of being an Oscar nominee or winner is something truly special.

Top Oscar Winners of All Time

The Academy of Motion Picture Arts and Sciences has been awarding the entertainment industry for crucial achievements since 1929. The Academy Awards is also the oldest worldwide entertainment awards ceremony. Here are some of the top record holders for the most Academy Awards.

Walt Disney is known for the record for the most Oscars won by an individual, with 22 competitive awards and four honorary awards from 59 nominations.

Furthermore, there is a three-way tie between Walter Brennan, Daniel Day-Lewis and Jack Nicholson for the male actor award, with all of them winning three accolades. In addition, Brennan has won the Best Supporting Actor award three times.

Katharine Hepburn is the actress with the most Oscars, winning four times. Three films are tied for having the most Oscars, including  ‘Ben-Hur’, ‘Titanic’ and ‘The Lord of the Rings: The Return of the King’, all receiving 11 awards.

One of the most renowned Oscar wins of all time is that of Matt Damon and Ben Affleck after their film ‘Good Will Hunting’ won two Oscars in 1997.

Both Damon and Affleck won the Oscar for ‘Best Original Screenplay’ for the film. At the same time, Robin Williams won the Oscar for ‘Best Supporting Actor’ for portraying the role of Dr. Sean Maguire in the film.

How Expensive is the Oscars? How Much Money is Spent?

The 2024 Oscars ceremony reportedly costs approximately $57 million. Thanks to the ceremony, the economy of Los Angeles also receives a major boost of $170 million every year.

Additionally, the red carpet of the Academy Awards costs around $25,000, taking 600 hours and an 18-person crew to install for the guests to grace the ceremony.

Furthermore, an A-list actress, on average, spends around $10 million on their outfit for the award show, while other attendees spend nearly $1.5 million on their looks. Celebrities attending the ceremony for the first time tend to spend around $266,000 on their ensemble. 

Conclusion

While monetary triumph has emerged as a key parameter for a film’s success at the box office, winning awards such as the Oscar also adds significant value to a celebrity’s career growth and development. Meanwhile, the Oscars telecast will air live on ABC. People can also livestream the ceremony on abc.com and the ABC app.

Note: Track all your streaming and entertainment subscriptions and bills in one place with Beem. Beem’s AI-powered Best Financial Feed feature helps you budget your money smarter. Check out the feature on Beem and access cash for emergencies, along with offers on auto insurance, personal loans, savings accounts, and so much more.

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Picture of Monica Aggarwal

Monica Aggarwal

A journalist by profession, Monica stays on her toes 24x7 and continuously seeks growth and development across all fronts. She loves beaches and enjoys a good book by the sea. Her family and friends are her biggest support system.

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This page is purely informational. Beem does not provide financial, legal or accounting advice. This article has been prepared for informational purposes only. It is not intended to provide financial, legal or accounting advice and should not be relied on for the same. Please consult your own financial, legal and accounting advisors before engaging in any transactions.

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