The Academy Awards – the biggest night in film – is this weekend, with streaming giant Netflix leading the nominations.
But while the streamers may be gunning for movie domination, traditional cinema seems far from dead and buried.
Arts and entertainment reporter Bethany Minelle sat down with Tim Richards CBE, the founder and CEO of cinema chain Vue, to find out how much box office clout awards season really yields, why 2024 was a good year for film and who’ll be taking home an Oscar on Sunday.
Is there such a thing as an Oscars bump – a measurable boost in a film’s takings when it gets an Academy Award nod?
It all depends on when the film is released, says Richards.
If it’s on release and it gets Oscar nominations, then it will see a bump up in sales. If a film hasn’t been released yet and it gets a lot of awards attention, then it will definitely get a bit of a bump.
But for all other films, the majority of which are nominated once they’re off-screen, we really don’t see any commercial benefit.
For example, Timothee Chalamet’s performance as Bob Dylan in A Complete Unknown is extraordinary, but the film’s just at the tail end of its run here in the UK. Any benefit would be a very small one.
You can compare that with I’m Still Here, which came out just days ago here in the UK, which could see real financial rewards if it takes any (or all) of the three Oscars it’s up for. It’s all in the timing.
The Academy Awards have become a much more international affair recently, haven’t they?
Film is a global business, with 75% of box office coming from international markets. It’s not just from the domestic any more. The Academy [the body behind the Oscars] have responded to that.
They’ve brought in international filmmakers to be part of that decision-making process [Since 2016 the Academy launched an initiative to expand its membership and increase diversity].
Lots of Oscar-nominated movies were out late in the day here in the UK, do you think that will have impacted British Academy voters?
Netflix’s Emilia Perez was only screened in a couple of central London cinemas for one week, on a couple of screens, says Richards.
It’s an incredible movie, and I think that it definitely suffered because it was not screened across the whole country.
Equally, I’m Still Here, is an extraordinary film and absolutely suffered from a very late release date, which is unfortunate because it’s a contender. It’s not by accident that it’s up for best picture.
Has the death of cinema been greatly exaggerated?
First cinema was hit by COVID-19, then by the US writer and actor strikes which had a worldwide impact, so the film industry has had lots to contend with in recent years.
There’s the rise of streaming platforms too, but I’ve never considered anything that happens at home – whether it’s VHS or DVD or pay-per-view or subscription services – as competition. Our competition is from other forms of out-of-home entertainment.
Movies are more scary or funny or sad collectively, plus you’re guaranteed not to have the doorbell ring with a neighbour’s delivery, which is the kind of great escapist entertainment which we rarely get any more.
So, the future’s bright?
As a quarter, last summer was incredible for film, Richards adds.
It was bigger than pre-pandemic levels. You had Inside Out 2 which was the biggest animated film of all time and the eighth highest-grossing movie of any kind of all time.
Then we had Deadpool, the highest-grossing ever R-rated film.
Then we had Wicked, the highest-grossing global debut for a Broadway adaptation, overtaking Mamma Mia.
It was a record-breaking year. December was the highest-grossing December in history in the UK.
Now, we’ve got Bridget Jones 4, and it’s been a phenomenon and is tracking to be one of the biggest, if not the biggest, movie in the series. The future’s definitely bright.
Tim’s 2025 Oscar predictions:
- Best film: Anora
- Best director: Brady Corbet
- Best actor: Adrien Brody
- Best actress: Demi Moore
- Supporting actor: Kieran Culkin
- Supporting actress: Zoe Saldana
Follow live coverage of the 97th Oscars ceremony on Sky News on Sunday 2 March
