The Academy Awards offer a chance for Hollywood to show off its glitz, glam and gold.
And it can cost a pretty penny for celebrities to attend the evening in style.
The 2023 Oscars ceremony itself has a staggering $56.8 million price tag, according to a report by WalletHub.
It’s apparently a boon for the local economy, too: Los Angeles reportedly sees a more than $163 million boost from the ceremony.
For an A-list actress, that means they could drop about $10 million on a show-stopping look for the red carpet.
Even first-time attendees have to open their wallets wide, with an outfit potentially ringing up $266,000.
Cate Blanchett, who is nominated this year for Best Lead Actress for “Tár,” set the record for the most expensive look ever at the Oscars in 2014 — where her ensemble cost a whopping $18.1 million.
Lady Gaga’s Tiffany pendant that she rocked at the 2019 ceremony was valued at $30 million.
By the way, according to WalletHub, a win in the Best Actor or Actress category can mean a 20% boost in pay for the victor’s next film.
Best Picture winners, meanwhile, can see an average $9.4 million average increase in their domestic box office sales.
Cate Blanchett won an Academy Award in 2014 for “Blue Jasmine,” and her outfit cost a lofty $18.1 million.WireImage
Stars can spend roughly $10 million on their ceremony ensembles. Getty ImagesAs for the coveted golden Oscars statuette, one may think that it has a hefty price tag. However, the gold-plated trophy is only worth about $400, according to WalletHub, and is 24-karat gold.
Fans know all about the infamous, star-filled Vanity Fair Oscars bash that occurs right after the ceremony.
Tickets for couples who want to attend the luxurious party can cost them at least $80,000.
For that price, though, guests won’t walk away empty-handed with only selfies for memories. The annual Oscars goodie bag is valued at $200,000.
And in 2021’s bag, an NFT of the late “Black Panther” star Chadwick Boseman reached $1.2 million.
Looking to advertise during the ceremony? A 30-second spot costs $1.95 million, which is practically a bargain compared to — and about 72% less than — one for the Super Bowl, which can reach $7 million.
As for the Oscars’ traditional red carpet that will be rolled out and lead to the Dolby Theatre — where the show will be held — it can cost $24,000 to install it.
However, this year’s carpet will not be crimson for the first time since 1961.
The 2023 show will feature a Champagne-colored carpet; host Jimmy Kimmel gave fans a glimpse of it on Wednesday.
“People have been asking, ‘Is there going to be any trouble this year? Is there going to be any violence this year?’ And we certainly hope not,” the late-night host said, subtlely referring to Will Smith’s “slap heard around the world” that connected with Chris Rock at last year’s event.
“But if there is, I think the decision to go with a Champagne carpet rather than a red carpet shows how confident we are that no blood will be shed,” he continued.
Viola Davis is shown with her 24-karat gold Oscar statue, which costs about $400.WireImage “This is the kind of thing you only see in Hollywood and every model home in America,” Kimmel joked about the unveiling.
“I’ve never really done play-by-play for carpeting before.”
