The news: Word-of-mouth box office success “Everything Everywhere All At Once” (EEAAO) dominated the 95th Academy Awards on Sunday, winning seven awards including Best Picture and making Michelle Yeoh the first Asian person to win Best Actress.
The success of “Everything” shows the Academy attempting to acknowledge popular films in the hopes that their fans will tune in and reverse a years-long ratings decline for the event.
Box-office misbalance: The Academy Awards aren’t known for doling out awards to the year’s highest-grossing movies, but the post-pandemic theater landscape that has little room for non-franchise films has led the event to nominate top box office performers.
Enduring importance: Ratings for the event were not available as of Monday morning, but the Academy Awards remain a powerful, non-sports advertising event in a TV landscape that has very few contemporaries left.
Our take: This year’s Academy Awards showed an event attempting to reconcile with the new box office reality. If last year was about giving streaming services a seat at the table, this year was about recognizing box office successes and trying to run a show whose nominees reflect consumer viewing habits while also recognizing other, if not very lucrative, quality films.
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