The Academy of Motion Picture Arts and Sciences convened its annual all-hands meeting on Tuesday, where approximately 11,000 members were educated on the organization’s leadership structure, budget, goals, and priorities. This virtual gathering was led by Academy President Lynette Howell Taylor and CEO Bill Kramer, who discussed the Academy’s ambitious plans for the next year, including its budget for 2027, ongoing conversations about artificial intelligence, and hopes for the Oscars to engage a global audience of “2 billion people” when the show transitions to YouTube in 2029.
Financial Overview
The Academy has set a budget of $187 million for the fiscal year spanning July 1, 2026, to June 30, 2027. Key expenditures include 23% allocated for awards-related expenses—covering the Oscars show, nominees luncheons, and other events. An additional 5% goes toward bond repayment, while 12% is dedicated to Academy programs and operations. Foundation activities, encompassing museum exhibitions and talent development, account for 19% of the budget, and personnel expenses across various programs make up 41%.
Kramer emphasized the vital importance of diversifying revenue streams for the Academy’s long-term sustainability. “In the past, 90% of our operating revenues were tied to the Academy Awards,” he noted. “Now, thanks to our ongoing focus on revenue diversification, we are witnessing increased support from individuals, foundations, corporate sponsors, and strong ticket sales from our museum gala and events.”
Since the launch of the Academy 100 Revenue Diversification Campaign two years ago, $308 million has been raised towards a goal of $500 million by 2028. Notable supporters include Netflix, Sony Pictures Entertainment, NBCUniversal, and Apple, alongside luxury brands such as Chanel, Dior, Louis Vuitton, Giorgio Armani, and Tiffany & Co.
Transforming the Oscars
The discussion about the Oscars highlighted the ceremony’s upcoming move from ABC to YouTube starting in 2029. Howell expressed optimism that this transition could allow the Oscars to reach an unprecedented 2 billion viewers worldwide. A strategic partnership with AEG will see the event relocate from the Dolby Theatre to the larger Peacock Theater in downtown Los Angeles, which accommodates 7,000 spectators compared to the Dolby’s 3,400. “This new venue will give our members greater access to Oscars tickets, which was one of our core goals,” Kramer explained.
Addressing Technological Advances
Howell also tackled the complexities surrounding artificial intelligence, assuring members that the Academy is committed to engaging actively with the issues posed by new technologies. “Our responsibility as an academy is not to be defined by either fear or hype,” she stated. “We are actively participating in conversations about how these technologies are being developed and used.” She emphasized that technology should serve as a tool for enhancing human creativity rather than replacing it, and asserted the essential role of human authorship in artistic endeavors.
“We don’t pretend to have all the answers,” Howell continued. “None of us does. The technology is moving too quickly for that, but the Academy should serve as a venue for these vital conversations, fostering collaboration among artists, craftspeople, scientists, and technologists to shape the future of our industry.”
Memorable Acquisitions
Amy Homma, the director and president of the Academy Museum of Motion Pictures and the Academy Collection, shared highlights from the museum’s recent acquisitions. Among these are the interior van set decoration and props from “Nomadland,” a bicycle from “Pee-wee’s Big Adventure,” and a mummified prop corpse of Catherine Deneuve from “The Hunger.” The Margaret Herrick Library has also secured Diane Keaton’s annotated script for “Manhattan Murder Mystery” and costume design drawings by Edith Head for Kim Novak in “Vertigo.” Furthermore, a never-before-seen 1929 screen test of John Wayne on 35mm nitrate film was added to the film archive.
Kramer announced that the Academy Film Archive building, also known as the Pickford Center, will undergo significant renovations to enhance its facilities, including updates to HVAC, mechanical systems, lighting, and roofing, with a target completion date of 2029.
