Bad News Delivered After Oscars, Motion Picture Academy Forced to Launch $500 Million Fundraising Drive
It’s not quite to the point where the hashtag “OscarsSoBroke” will be trending, but the Academy of Motion Picture Arts and Sciences is passing the hat around the globe.
A $500 million fundraising campaign was launched Friday with the goal of reaching the target by the 2028 Oscars, which would mark the 100th Academy Awards.
This news comes just a few months after a generally poorly received 2024 Oscars, as well.
Although Academy officials talked about its global future in announcing the drive, it comes at a time when TV viewership of the annual awards show has been trending downward, according to an Agence-France Presse report posted on Barron’s.
The Academy’s contract with ABC to broadcast the show is up for renewal,
