Apple News Today: What it Actually Costs to Win an Oscar

Date: March 14, 2026
Host: Sam Sanders (in for Shumita Basu)
Guest: Katie Rich (Awards Editor, The Ankler; Host, Prestige Junkie)

Episode Overview

This episode of Apple News Today explores the hidden costs, strategies, and politics behind winning an Oscar. With the 2026 Academy Awards looming, host Sam Sanders and guest Katie Rich break down the economic, social, and cultural machinery that fuels the Oscars—a process often likened to a political campaign. The discussion covers how much studios spend on Oscar campaigns, the evolution of Academy voting, the ripple effect on jobs and the Hollywood ecosystem, and forecasts for this year’s top categories.

Key Discussion Points & Insights

1. The Real Cost of Winning an Oscar

• Case Study: "Honora"
  • Though "Honora" was made for $6 million, the Oscar campaign reportedly cost $18 million—triple the production budget.
  • "It’s about strategy. Months of screenings, Q&As, festival stops... all aimed at about 11,000 Academy members." (A, 00:33)
• Breakdown of Cost Per Vote
  • Estimating an Oscar win requires swaying roughly 6,000 voters, the campaign boils down to about $3,000 per vote. (A & B, 02:36–03:04)
  • Quote: "This is very back of the envelope math... $3,000 per vote." (A & B, 03:02–03:04)

2. Who Votes for the Oscars?

• The Academy has expanded from ~6,000 to ~11,000 members in the past decade to increase diversity and international representation.
  • "Now, if you had to describe it, what is this body? How big is it? Who are they?" (A, 03:13)
• Lifetime membership, with some moved to emeritus status if no longer active.
  • "You're in it for life... There are rules about how to stay an active voter." (B, 04:02)
• Roughly 20% of members are now international, leading to more worldwide campaigning logistics. (A & B, 04:37–04:40)

3. Anatomy of an Awards Campaign

• Tactics & Events
  • Campaigns include elaborate screenings, exclusive events, strategic gifting, and creative outreach (hot air balloon fair, signed Billie Eilish sheet music, lavish after-parties).
  • "Netflix can often for their level of spectacle... but you will get the attention you want." (B, 07:01)
• Rule Changes
  • Voters now must confirm via the online portal that they have watched a film before voting, though it still mostly relies on the honor system.
    • "It's just one extra. It's an honor." (A, 08:08)

4. Oscar Campaign History: From Subtle Persuasion to All-Out Competition

• The modern, aggressive Oscar campaign is traced back to Harvey Weinstein’s tactics in the late 1990s, especially the "Shakespeare in Love" victory over "Saving Private Ryan."
  • "Harvey Weinstein was gonna come in and just pound the pavement, being shameless about it... It totally worked." (B, 09:17)
• Long-Term Impact:
  • "A lot of Weinstein's tactics have made it into Oscar season groundwater... He proved you could break this seal of respectability around Oscar campaigning." (B, 10:14)

5. Subjectivity of “Best” and the System’s Flaws

• The definition of the 'best' film is deeply subjective and often reflects generational divides or industry biases (e.g., "Brokeback Mountain" vs. "Crash," "Spotlight" over "Mad Max: Fury Road").
  • "What I think is the best movie... is gonna be really different from what my parents think." (B, 11:18)
• Campaigns help small films like "Honora" gain visibility:
  • "Every extra interview you do and pound that pavement... It's just getting the attention for your movie that it can't get otherwise." (B, 12:11)

6. Economic Ripple Effects

• Oscar season is a significant economic driver for Hollywood and beyond, employing thousands: caterers, florists, hairstylists, crew, etc.
  • "If you take that [$18M] away, you lose thousands of jobs in this city." (A, 14:48)
  • "They employ a ton of people... all just LA crew people." (B, 15:05)

Highlights From the 2026 Race & Predictions

1. Best Picture Showdown

• Front-Runners: "One Battle After Another" (Paul Thomas Anderson) vs. "Sinners" (Ryan Coogler).
  • "Sinners is the bigger box office hit. It’s got more nominations... a vampire movie... musical... period piece. It checks every box of what Hollywood needs." (A, 16:21–17:53)
• Cultural Impact:
  • Sinners praised for original IP, cast diversity, and broad appeal:
    • "He made new IP work and get butts in seats... It checks every box of what Hollywood needs." (A, 17:27)

2. New Category: Best Casting Direction

• First year for the award. Likely favorite: Francine Masler for "Sinners."
  • "Her list of credits is absolutely unbelievable... I think she will win for having pulled off really the depth of that world." (B, 19:05)

3. Potential Upsets in Acting Categories

• Supporting Actor:

  • Delroy Lindo ("Sinners") could upset BAFTA and Actor winner Sean Penn:
    • "He could be a real threat in that category." (B, 21:10)
  • Notable Quote: "He has deserved to be nominated so many times before now." (B, 21:26)
  • Michael B. Jordan ("Sinners") is catching momentum, possibly overtaking presumed frontrunner Timothée Chalamet ("Marty Supreme"):
    • "The vibes around Sinners have gotten really strong in just the last few days before voting close." (B, 22:28)

• Supporting Actress:

  • Three-way race: Teyana Taylor ("One Battle After Another"), Wunmi Mosaku ("Sinners"), Amy Madigan ("Weapons").
  • Commentary: "The most logical winner is Teyana Taylor... She is so powerful in that movie, she's been absolutely everywhere." (B, 25:49)

4. The Oscars' "It's Their Turn" Phenomenon

• Discussing overdue wins and career Oscars—Denzel Washington, Leonardo DiCaprio, Timothée Chalamet, Michael B. Jordan.
  • "When I think of my favorite actors of all time, when they've got the big award, it's kind of been like three or four movies too late." (A, 26:05)
  • "You want to make sure you get it right so you don't have to make up for it later." (B, 26:37)

5. Why Oscars Still Matter

• Beyond industry politics and campaign cynicism, Oscar wins can be genuinely moving and meaningful:
  • "You see just what it means to someone to get to that point... the recognition from your peers... It's really hard to stay cynical." (B, 27:19)

Memorable Quotes & Moments

• On the Oscar Industrial Complex:
  • "It feels eerily similar to a political campaign. How much did you have to spend to get one vote?" (A, 01:16)
• On Tactics Since Weinstein:
  • "A lot of the same kind of stuff that he pioneered... He proved you could break this seal of respectability around Oscar campaigning." (B, 10:14)
• On the Emotional Payoff:
  • "Even after all these years, it's such a meaningful and moving thing to me." (B, 28:21)
• On the Necessity of Oscar Season:
  • "If you take that [campaign spending] away, you lose thousands of jobs in this city." (A, 14:48)

Timestamps for Important Segments

| Timestamp | Segment Description | |-------------|--------------------------------------------------------------------------------| | 00:33 | Honora’s Oscar campaign cost and economics | | 02:36–03:04 | Math on cost per Oscar vote | | 03:13–04:16 | Who are the Academy voters, expansion and diversity | | 05:12–06:23 | How the nomination process works and small margins for winning | | 06:23–07:49 | “Oscar campaign spectacle”—over-the-top screenings and events | | 07:49–08:45 | New requirement for voters to confirm they've watched the films | | 08:45–10:14 | History lesson: Harvey Weinstein and birth of aggressive Oscar campaigning | | 12:11–13:44 | Do Oscar campaigns really help small films find an audience? | | 14:48–16:01 | Oscars’ economic impact on Hollywood and LA | | 16:17–17:53 | Deep dive on Best Picture front-runners "Sinners" vs "One Battle After Another"| | 19:05–20:26 | Behind the new casting direction Oscar and likely winner | | 20:44–21:26 | Supporting Actor category: Delroy Lindo’s surge | | 22:53–23:25 | Michael B. Jordan’s momentum; Chalamet’s interview controversy | | 24:03–25:49 | Supporting Actress predictions and analysis | | 27:19–28:21 | Katie Rich on why the Oscars still inspire |

Conclusion: The Enduring Pull of the Oscars

Though Oscar season is awash with strategic spending, politicking, and industry gripes, the episode ultimately reaffirms the ceremony’s power as both a career-defining landmark and a critical support system for the global film industry. The wild investments made in Oscar bids don’t just garner statues—they fuel jobs, attention for overlooked films, and the retention of cinema’s place at the cultural center.

For more on Katie Rich’s insights, find her podcast Prestige Junkie and see the show notes for additional resources.