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Last Year’s Academy Awards Cost More Than $40 Million

The Academy of Motion Picture Arts & Sciences released its yearly report on Wednesday, which revealed the budget for the 2014 Oscar season: $40.8 million.

The 86th annual Academy Awards, hosted by Ellen DeGeneres, posted $97.2 million in revenues, up from $93.7 million the previous year.

The costs encompass production of the televised ceremonies, Governors Awards, Governors Ball, staffing and various other costs including the event, though the Academy did not itemize these.

Featuring the infamous Oscar selfie, the March 2 show drew more than 45 million viewers becoming the most-watched entertainment event in over 10 years.

In total, the Academy’s assets were $534.0 million in 2014, a hefty jump from the $488.8 million of 2013. Revenues were $151.4 million, climbing from $134.3 million. The Academy’s biggest jump in assets in 2014 came from investments, $365.7 million, up from $277.7 million.

The report, compiled by PricewaterhouseCoopers, comes 24 hours before the announcement of the Oscar nominations.

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