The Golden Globes are often seen as a trial run for the Oscars. Movie producers spend millions more promoting Oscar campaigns, and relatively little on the Globes. The Globes live up to this reputation to a point, but they are also much more significant.
As it turns out, Golden Globe awards result in a bigger box-office boost than Academy Award wins – $14.2 million per film, on average, versus $3 million, according to my statistical analysis. This might explain the Academy of Motion Picture Arts and Sciences’ decision last year to move its nomination announcements a few days ahead of the Golden Globe Awards on Jan. 13.
It’s worth bearing in mind that the Golden Globe and Oscar races are not just about selling tickets to the films that win. The awards bring opportunities to the winners – and the unquantifiable gratification of victory. However, the total box-office effects of these awards number in the hundreds of millions, and figures like that cannot be ignored. So let’s dig in.
If we look at total box-office receipts for award-winning films over the past 12 years, we find that the Academy Award nominees contribute 27 percent of the total gross, whereas Golden Globe nominees contribute about 18 percent (with significant overlap between the two).