AND THE WINNER IS . . . L.A.Byline: Marla Matzer Daily News Staff Writer Winning an Academy Award can boost an actor's stature and asking price. That's why you'll see a lot of nervous faces as the nominees are read tonight. But there is one guaranteed winner every year: the economy of Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. . The Oscars are a yearly bonanza for the proprietors of catering and limousine services and floral shops, to name just a few. Some businesses credit Oscar with bringing in as much as a quarter of their annual income. Tonight's awards ceremony will generate an estimated $60 million in total revenue for L.A. In L.A. In is a compilation of studio recording by Various Artists. It was originally released in 1979 as an LP by Rhino Records. Track listing Side One The Kats a reciprocal gesture, the city is kicking in services - primarily traffic control and sign postings - worth $19,000 toward staging the event. ``Each year, the Oscars seem to be getting more elaborate. . . . They've added the nominees' luncheon, and this year they've moved the ceremony to Sunday,'' said Jack Kyser, chief economist The Chief Economist is a single position job class having primary responsibility for the development, coordination, and production of economic and financial analysis. It is distinguished from the other economist positions by the broader scope of responsibility encompassing the of the Los Angeles County Economic Development Corp. Kyser's organization says this year's $60 million is up from just $35 million five years ago, and is growing. Sure, other events draw more dollars. The 2000 Democratic convention in L.A. is expected to bring in $135 million. And a Super Bowl attracts a whopping $200 million to its host city each year, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Kyser's estimates. But a city is lucky to get a Super Bowl once a decade or national political convention every two or three decades. L.A. has a big advantage when it comes to the Academy Awards - it doesn't have to compete for them each year the way, say, Super Bowl and Olympics host cities must vie for those prizes. ``That's the beauty of the Oscars for L.A.,'' Kyser said. And as far as other awards shows, the Academy Awards dwarfs them all. The Grammys, which returned to Los Angeles from New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of this year, brought in an estimated $26 million, for example. Trophies like the Emmys and the Tonys pale even more by comparison. Meanwhile, the last five Oscar ceremonies have generated more revenue combined than one Super Bowl for Los Angeles. Advertisement for L.A. That's especially impressive since the public can't buy tickets to the Academy Awards. Rather than attracting a large number of visitors who will attend the event itself (though there are die-hards who will wait for hours to watch the celebrities arrive), the Oscars act more as a year-round advertisement to the 23 million people a year who visit L.A. Why the growth of an event like the Oscars? It's a convergence of fame, money and millions of viewers the likes of which is rarely seen outside of top sporting events. Quite simply, money begets money. ``The Oscars are one of the few regularly scheduled events of this kind that have this kind of pull,'' said Jim Andrews James Pratt Andrews (June 5, 1865 - December 27, 1907) was a Major League Baseball right fielder in 1890 for the Chicago Colts of the National League. He was a native of Shelburne Falls, Massachusetts. , vice president of Chicago-based event marketing firm IEG IEG Implementing Electronic Government IEG Immediate Early Gene IEG Industries Electriques et Gazières (French: Gas and Electric Industries) IEG Institut für Europäische Geschichte Inc. Andrews, whose firm tracks spending on event and sports-related marketing, said the Academy Awards appear to be moving in the same direction as the Super Bowl in expanding into multiday events. ``The Super Bowl in a way has become a trade show for the sports and marketing businesses,'' Andrews said. ``More than half the people (visiting the host city) don't have tickets to the actual game. They're there because they want to be part of the buzz, or to be near their clients, the players' managers, what have you.'' In this way, the Oscars can provide even more of a bonanza for companies looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. publicity. The products players wear and use during the Super Bowl, for example, are strictly regulated by agreements struck by the National Football League and other parties. Clothing and jewelry jewelry, personal adornments worn for ornament or utility, to show rank or wealth, or to follow superstitious custom or fashion. The most universal forms of jewelry are the necklace, bracelet, ring, pin, and earring. Movie stars, on the other hand, can pick and choose clothing and jewelry designers A jewelry designer is defined as a person who renders, creates, and models original Jewelry creations. By profession this person would be trained in the knowledge of metalsmithing and design. . A number of designers rent hotel suites and invite nominees to select pricey Pricey Term used for an unrealistically low bid price or unrealistically high offer price. pricey Of, relating to, or being an unrealistically high offer. An offer to sell a security at $50 when the current market price is $47 is pricey. items to wear free of charge in exchange for the publicity. Harry Winston Harry Winston (March 1, 1896 – December 8, 1978) was an American jeweller. He donated the Hope Diamond to the Smithsonian Institution in 1958 after owning it for a decade. Jewelers, for example, has cashed in on this marketing technique for a half-century. This year, Winston will reportedly lend 30 pieces of jewelry, valued at $50 million, to the nominees, who will be closely watched by an audience of perhaps 80 million or more. Last year's ceremony attracted a record TV audience of 87 million, though many think that number was puffed up by the dominance of popular favorite ``Titanic.'' Even if viewership is off a bit this year, the numbers remain heady. The awards' halo effect halo effect The beneficial effect of a physician or other health care provider on a Pt during a medical encounter, regardless of the therapy or procedure provided. See Hawthorne effect, Placebo effect, Physician invincibility syndrome. for L.A. is expected to be further magnified when a new permanent home for the ceremony is completed in Hollywood within a couple of years. The project, at the corner of Highland Avenue and Hollywood Boulevard For uses other than the original street, see Hollywood Boulevard (disambiguation). Hollywood Boulevard is a boulevard in Hollywood, Los Angeles, California, United States, beginning at Sunset Boulevard in the east and running northwest to Vermont Avenue, where it straightens out , ``will put this spotlight of the entertainment industry literally on Hollywood,'' said Michael Collins Michael Collins is the name of:
Collins and other civic boosters hope the new 3,300-seat theater and 60,000-square-foot ballroom at the site will help to finally give Hollywood, which has gotten seedy over the years, a much-needed boost. Hooray for Hollywood ``The Oscars represent one of the most distinguishing characteristics of Los Angeles,'' Collins said. ``The event reminds people of one of the most powerful brand names in the world: Hollywood.'' Everyone seems to agree that the Oscars are on track to become a bigger and bigger event for Los Angeles over the coming years. ``I think (the Academy) is just beginning to realize what the ceremony means, and they're creating more events around it,'' Kyser said. Andrews points to the move of the ceremony to Sunday - which should guarantee a bigger TV audience - as an example of the Academy's drive toward super-event status. ``Pepsi is unveiling their new ad campaign during the Oscar ceremony this year. In the past, they've done that during the Super Bowl. That's obviously significant,'' Andrews said. Los Angeles boosters say ultimately, though, that a price can't even be affixed af·fix tr.v. af·fixed, af·fix·ing, af·fix·es 1. To secure to something; attach: affix a label to a package. 2. to all the benefits and goodwill generated by Hollywood's yearly crowning ceremony. ``I'll tell you what it's worth: It's priceless,'' Collins said. ``You can't put a dollar amount on it.'' HERE COMES THE MONEY HOW IT RATES The Academy Awards will bring a total of $60 million to Los Angeles this year. The chart below shows how Oscar revenue stacks up against other media, sports and political events: Academy Awards - $60 million Grammys - $26 million Democratic Convention - $135 million Super Bowl - $200 million RISING TIDE Noun 1. rising tide - the occurrence of incoming water (between a low tide and the following high tide); "a tide in the affairs of men which, taken at the flood, leads on to fortune" -Shakespeare flood tide, flood Total revenue for the Academy Awards has been dramatically rising the last 5 years: '95 - $35 million '96 - $40 million '97 - $45 million '98 - $50 million '99 - $60 million 5 year total: $230 million All figures estimated by the Los Angeles County Economic Development Corporation CAPTION(S): Box, Drawing BOX / DRAWING: HERE COMES THE MONEY (see text) Illustration by Jon Gerung/Daily News |
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