How much are the Oscars

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(NewsNation) — For the first time in four years, the Oscars telecast, scheduled for this Sunday, will have multiple hosts, with actors Wanda Sykes and Regina Hall and comedian Amy Schumer sharing the honor.

Although the pandemic has hit Hollywood hard, with revenue down nearly 60% from pre-COVID pandemic levels, according to WalletHub, people can still expect some things to stay the same: red carpet, the awards and of course, the movies.

WalletHub, ahead of one of Hollywood’s biggest nights, broke down exactly what it costs to put on the Oscars.

In total, the 2022 Oscars will cost $42 million. Each 24-karat gold-plated Oscar statuette, WalletHub reported, is expected to cost $400.

To attend Vanity Fair’s Oscars party this year is $80,000 per couple, making it the most expensive after-party on record. A-list actors can expect to pay an average of $10 million for their outfits: though that number ranges from $1.5 million for the average participant set to $266,000 for a newbie.

For Los Angeles, the Oscars are an economic boon: 130 million dollars is the annual income that the city derives from the awards ceremony. ABC earns $120 million in ad revenue from the awards show and $21 million is generated from the Red Carpet show.

It’s not just the city or the TV station that benefits from the prizes: the best actor/actress winner can expect a 60% salary increase.

Even getting to the Oscars is expensive: Hollywood spends $100 million annually lobbying for awards season, per WalletHub.

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