It costs $10 million to dress an A-list actress at the Oscars. These 8 mind-blowing figures reveal the price tag of Hollywood's biggest night.
Elana Klein
- The 2023 Academy Awards will air on Sunday, March 12, on ABC.
- The ceremony alone costs over $56 million, according to data shared by WalletHub.
The Academy Awards ceremony costs a whopping $56.8 million, according to data shared by WalletHub.
Each year, WalletHub breaks down the costs associated with Hollywood's biggest night. According to the 2023 report, it takes $56.8 million to put on the Academy Awards.
This is just a fraction of the money spent on the actual nominees, though. "Avatar: The Way of Water" — which is nominated in four categories this year, including best picture — had a budget between $350 million and $460 million.
The 50,000-square-foot red carpet alone costs $24,700.
That's not the only shocking figure associated with the red carpet: Its installation takes 600 hours.
Celebrities will start gracing the red carpet at 5 p.m. ET on Sunday, March 12. The show itself starts at 8 p.m. ET.
Each gold-plated Oscar award costs $400.
The estimated cost of each 24-karat gold-plated mini statue awarded to winners is about $400, according to WalletHub.
The Academy gives out awards in 24 categories, and a winner is not allowed to sell their statue without first offering to sell it to the Academy for $1, according to its policy.
Couples must pay at least $80,000 for tickets to the Vanity Fair Oscar Party.
Each year, the highly anticipated, ultra-glamorous event hosted by Vanity Fair is attended by Hollywood's biggest stars — often after they've had a change of wardrobe.
The Oscar goodie bags contain up to $200,000 worth of products, including luxury getaways, cosmetic treatments, and jewelry.
WalletHub estimates that the value of each goodie bag given to Oscar nominees exceeds $200,000, though Forbes puts this year's bag closer to $126,000.
According to Forbes, among the extravagant gifts that nominees will receive this year are a $25,000 credit for home renovations, $10,000 worth of anti-aging treatments, and $435 worth of gourmet dates. The bag also includes a three-night, $40,000 getaway at a home in Ottawa with an outdoor pool, an archery lane, and two luxury cars.
As Insider reported, last year, the offering included a stay in a Scottish castle, and according to TimeOut UK, previous bags have included personalized stained-glass portraits, luxury condoms, and liposuction treatments.
It costs $10 million to complete the look of an A-list actress for the Oscars.
While A-listers wear multi-million-dollar looks, the cost of dressing a first-timer at the Oscars is $266,000, according to WalletHub's report.
Because the cost of a look varies based on a person's stardom, the average cost of a look at the Oscars is about $1.5 million.
In 2014, Cate Blanchett made Oscar history when she wore a $18.1 million look. Her $100,000 Armani Privé gown was the least expensive element of her outfit — her jewelry alone was estimated to cost $18 million.
A 30-second advertisement that premieres during the Oscars costs close to $2 million.
Last year, 16.6 million people tuned in to watch the show, according to Variety, citing Nielsen data. It's no surprise, therefore, that running an ad during the live event's commercial breaks is expensive.
According to WalletHub, it costs $1.95 million to buy 30-seconds of ad time during the Oscars.
ABC makes at least $117 million in ad revenue on Oscar Sunday.
WalletHub estimates that ABC, the TV network that hosts the awards, makes $117 million in ad revenue on the day of the Oscars.
Popular Right Now
Advertisement