Oscars Brought The Academy $97.3 Million in 2014

The Oscars brought the Academy of Motion Picture Arts and Sciences $97.3 million in 2014. That figure was up slightly from 2013 when revenue from the Academy Awards and related activities like Governors Awards amounted to $93.7 million. The bulk of that income comes from the sale of broadcast rights — ABC has domestic rights to the show through 2020, while Disney’s Buena Vista International has the foreign TV rights through 2020.

The Academy’s total 2014 revenues totaled $151.5 million, up from $134.4 in 2013, the Academy said in its annual report, released Wednesday. Total expenses also grew from $97.3 million in 2013 to $105.1 million in 2014.

The report noted that in 2013, the Academy closed the sale on the Homewood land and the building it held in Hollywood, which had originally been acquired when the Academy planned to build a motion picture museum in Hollywood for $45 million, incurring closing costs of $622,700. In 2014, it completed the sale of a neighboring piece of land on DeLongpre for $3.75 million.

The Academy signed a lease agreement to build its new museum in the old May Co. building, belonging to the Los Angeles County Museum of Art in 2012. According to the report, the base rent for the 55-year lease (which is renewable for another 55 years at no cost) is $28 million. During 2013, the Academy made $5 million in lease payments, and in December 2013 the lease was amended to include an adjoining parcel of land that increased the total base rent by $8.1 million.