Cost of an Oscar

The annual prize ceremony for the best US movies and actors, also known as the Oscars, involves not just a fair amount of collaboration between different departments, but also a fair amount of money in hosting the grand spectacle.The Oscar statuettes, 24 in the competitive category, and one honorary, cost approximtely $700 a piece. Made of bronze and plated with 24-karat gold, they weigh 3.85 kg and stand just over a foot tall, at 13.5 inches. It takes three months to makes 50 statuettes.However, winners can only receive a nominal $1 as the statuette's value, should they wish to sell it - as the Academy of Motion Picture Arts and Sciences (AMPAS) calls first dibs on any such sale.

The Oscar award show, the centre piece of the AMPAS' yearly calendar, constitutes over 40 per cent of the annual expenses of the Academy.As against $43.98 million spent on the Oscars in 2015, AMPAS spent slightly over $44 million in 2016, earning over $113 million, which constituted almost 83 per cent of AMPAS' revenues of $136.27 million in 2016. In 2015, Oscars earned $109.27 million, which were 68.5 per cent of AMPAS' total revenues of $159.59 million.50 per cent of the Oscars' total expenses go toward allied activities before and on the day of the show, like security, gift hampers, catering, fee for the show producers, the Oscars scientific and technical awards and Governors Ball.

Part of the total expenses incurred on by the Academy were spent on advertising for the awards ceremony. In 2016, advertising costs were lower than the previous year's, by 6.52 per cent, at $5.49 million against $5.87 million in 2015.

The envelopes, which contain the name of each nominee across all categories, are specially handcrafted and cost $200 a piece.For the winners, the names are hand written inside the envelope and known only to two people.

The red carpet, which is a mini event before the Oscars, covers 16,500 square feet and costs between $25,000-30,000.

Perhaps the shortest shrift is given to the Oscar host, who gets home with just the bare minimum wage as per the union, which stands at $15,000 - paid to last year's host Jimmy Kimmel, who will also be hosting the Oscars this year.