Over the weekend I watched the HBO movie version of Too Big To Fail, and I talked to Andrew Ross Sorkin about it on Monday.
David Carr nails the financial implications of doubling the number of Best Picture nominees at the Oscars. It’s bad for the studios — which will now have even more films to market to the Academy in the hope of winning the award; it’s good for media outlets like Variety which get a lot of those marketing dollars; and it’s something of a wash for viewers:
Joe Weisenthal is right that the value of a Best Picture nomination has just plunged, now that the number of Best Picture nominees has doubled. What he doesn’t mention is that although there might be some marginal boost for film studios who would otherwise not have gotten a Best Picture nomination at all, there is probably going to be a significant devaluation of the actual Best Picture award.