The price of striking gold

The Oscars have evolved over time, with decreased financial rewards despite continued cultural and symbolic significance. The impact of the awards on the film industry has shifted, with a decline in theatrical attendance, limited impact on foreign films and documentaries, and diminished importance of DVD sales. Netflix has spent heavily on Oscar campaigns to promote its nominated films and establish credibility in the industry. While economic benefits are less tangible, the Oscars continue to provide legitimacy for new players like Netflix and A24/Open Road Films. Despite fleeting momentum after an Oscar win, the awards maintain cultural and symbolic value for the film industry.