Seven Facts You Never Knew About The Oscars

As the world celebrates another year of the Academy Awards, we take time to look back and find some interesting facts and trivia about the 91-year-old ceremony that is considered to be the highest award in the world of films. As for people from the film industry, winning an Oscar is often a feat that is hugely respected. While the energy surrounding the awards show is high, this is a time to learn some fun facts about it. Read on and find out.

The History Behind The Name — Oscar

The official name of the statuette is the Academy Award Of Merit. Yes, it is not just an “Academy Award”. Then why do we also call it an Oscar? Turns out, nobody really knows. The award ceremony is about to hit a century, hence it is truly hard to remember trivia from they years that have passed, but we do know one popular story behind this little nugget of info: Academy Librarian and later Executive Director Margaret Herrick had said that it looked like her Uncle Oscar back in 1931. Somehow, the name stuck, and Hollywood stars have been calling it an Oscar since. Made of solid bronze, plated with gold, and priced at $400 per statuette, an Oscar is one of the most coveted awards in the industry.

The Famed Red Carpet Appearance

The red carpet appearance has become a hugely popular segment during the Academy Awards in recent years. The entire world gears up to see what the stars are wearing to this Awards show. Not only that, the fashion police picks the best and worst dressed as the stars stop and pose in front of numerous cameras. But did you know that the red carpet itself costs about $24,700? The carpet is 16,500 square feet and takes 900 hours to be installed by 18 workers. What is more astonishing is that the average amount a star spends on her ensemble is close to $10 million. In fact, $18 million was spent on Cate Blanchett’s 2014 attire, and that is the most expensive gown in the history of the Academy Awards red carpet.

Acceptance Speeches

The Academy Award acceptance speeches are worth listening to. Sometimes, they are funny and uplifting while others are solemn and thought-provoking. For example, Leonardo DiCaprio talked about the preservation of our planet and finding sustainable ways of living in 2016. However, it has been found that the one person most people prefer to mention in their acceptance speeches is actress Meryl Steep. Not only has she won three Oscars, but she has also been thanked in about  12 out of 47 speeches as of 2014. It is said that she has beaten God to become the person who has been thanked the most times. Quite a feat, eh!

The Most Expensive Party

Turns out that the Vanity Fair Oscar Party hosted after the awards ceremony is the most expensive party ever! It costs $103,220, and that price tag probably increases every year. The after-party looks are often hotter and stars look a lot relaxed since the awards have all been announced. Usually, it happens at The Wallis Annenberg Center for the Performing Arts in Beverly Hills.

The Award Function That Makes Everyone Richer

Did you know that just from the Oscars, Los Angeles gets a yearly boost of $130 million to its economy? Also Hollywood spends a record $100 million or more every year in order to promote movies for the awards ceremony. It has also been found that the film that wins the Best Picture Award usually gets a $15 million increase in box office sales. Moreover, the actors and actresses who win the award get about a 20% hike in their salary for their next movie. To top it all off, the goodie bags this year costs about $150K in all. Last year, the most expensive gift from the goodie bag was a luxurious trip to Tanzania that costs about $40K.

With Rami Malek and Olivia Coleman winning the best actor and best actress awards respectively, Hollywood is celebrating talent over glamor, and hard work over lineage. This year, for the first time since 1989, the ceremony did not have a host, and the director of a Netflix movie won the Best Director award. It has been a year of many firsts, and we hope the Awards ceremony will keep encouraging new talents and more creativity.