The Academy of Motion Picture Arts and Sciences held its annual membership meeting on Tuesday, bringing together approximately 11,000 members to review organizational priorities and financial planning. Led by Academy President Lynette Howell Taylor and CEO Bill Kramer, the virtual gathering focused on presenting the institution’s leadership structure, operational budget, and strategic objectives for the coming year.
The Academy unveiled a $187 million budget for the fiscal year beginning July 1, 2026. Personnel costs represent the largest expense category at 41%, while awards production—encompassing the Oscar ceremony itself along with associated events—accounts for 23% of spending. Foundation operations, including museum exhibitions and educational initiatives, comprise 19% of the budget. Leadership emphasized the importance of revenue diversification, noting that Academy Awards-related income previously represented 90% of operating revenue. Through the Academy 100 Revenue Diversification Campaign, the organization has raised $308 million toward a $500 million goal by 2028, with support from major corporations and luxury brands.
The organization announced the Oscars ceremony will relocate from the Dolby Theatre to the larger Peacock Theater starting in 2029, when broadcast coverage moves to YouTube. Leadership expressed optimism about potentially reaching two billion viewers globally through the new platform. Academy leadership also addressed artificial intelligence, positioning the institution as an engaged participant in industry conversations about emerging technologies while emphasizing that such tools should enhance rather than replace human creativity.
Originally reported by Variety →
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