Name: Why Movie Studios Spend So Much For Awards | January 23, 2019
Uploaded: 2020-03-11T18:44:39.000Z
Duration: 10 min 1 s
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Carl isn't here to deliver your Wednesday edition of CNN 10. 2 

We have some awards show trivia coming up in a few minutes, but we're starting with a report on a second summit between two rival countries. 3 

There's an interesting standoff taking place between North Korea and the U. 4 

After meeting face to face for the first time last summer, the two Countriesleaders signed an agreement to establish new relations and work toward peace. 6 

But since then, it's as if the two sides are saying to each other, Okay, you go first. 7 

The answer is security guarantees promises from the U. 9 

That it will not attack the communist country. 11 

The penalties have placed on North Korea because of its nuclear and missile programs. 14 

While North Korea has said its nuclear program is a right, the United States and the United Nations consider it illegal. 15 

Wants for North Korea to completely give up its nuclear program and never try to develop nuclear weapons. 18 

When US President Donald Trump in North Korean leader Kim Jong Eun held their historic meeting on June 12th. 19 

They both agreed to give each other what they wanted, so the first step was taken. 20 

But it's the next one that's been the hang president. 21 

Trump is obviously very optimistic about the diplomatic process with North Korea. 22 

He even said that there's a lot of progress being made behind the scenes that hasn't been reported in the media. 23 

The arrangement of the second summit? 25 

Or is the progress actual compromise on this issue of the timeline of the nuclearization in the lifting of sanctions? 26 

Because that has been the key sticking point ever since the summit in Singapore on June 12. 27 

They signed a very vaguely worded agreement that didn't have any specifics. 28 

Kim Jong un walked away, perhaps thinking that the U. 29 

S was ready, tow, lift sanctions and provide economic relief right away, President Trump walked away thinking that perhaps North Koreans were ready to start getting rid of their nukes right away. 30 

Talks have broken down because of the fact that the North Koreans say they need to build confidence with the U. 32 

And they don't want to give up nuclear weapons until they are completely sold, that this process is going to work out. 34 

And so the big challenge now is for the US North Korea to find a way to come closer together on this issue. 35 

North Korea wants incremental sanctions relief in exchange for slow steps toward an eventual denuclearization of the Korean Peninsula. 36 

They also call for corresponding measures, which may include things like a reduction of troop presence, American troops on the Korean peninsula or getting rid of the nuclear umbrella that protect South Korea. 37 

They're gonna be quite difficult to overcome. 39 

We know that there are talks happening in Sweden. 40 

S special representative for North Korea, Stephen Vegan and Chase on he, the vice foreign minister. 42 

Those are some of the issues that they will be discussing at a lower level. 43 

And then, of course, the bigger picture, the summit itself. 44 

It'll be happening towards the end of February. 45 

That's according to the White House and President Trump. 46 

He's not announcing the location yet. 47 

Sources are telling me that the most likely option of those that have been thrown around is Vietnam. 48 

It's a country that has strong ties with both the U. 49 

It's a quick trip for Kim Jong UN to go to Vietnam, and Vietnam is a country that fought a war with the United States, rose from the ashes and transformed its economy in economic model the North Korea could perhaps follow if they decide to open up their own economy, something that Kim Jong UN has said he wants to do. 51 

Will they be able to accomplish something tangible? 54 

Will they be able to walk away with an agreement that actually leads to action as opposed to what happened in Singapore, where there was lots of smiles? 55 

Lots of photos, but nothing in terms of denuclearization? 56 

Will Ripley, CNN Beijing 12th tribute. 57 

The name Oscar refers to a statuette that's officially known is what. 58 

Motion Picture Achievement Award, Night of Film Achievement, Academy Award of Honor or Academy Award of Merit? 59 

The statuette is officially the Academy Award of Merit, and more than 3000 of them have been presented since May 16th 1929 when the academy of Motion Picture Arts and Sciences held its first awards ceremony. 61 

The nominees for this year's Academy Awards, the 91st in U. 62 

Observers say there's not a clear front runner for best picture this time around. 65 

Organizers haven't even named ah host yet, and ratings for the televised show have been dropping in recent years. 66 

But for people in the film industry and Oscar is still the pinnacle of success 1929 Studio had leaving their handed out the first Academy Awards. 67 

The winners have been announced months before, and the whole thing only cost $5 too. 69 

We have seen the American motion picture become Ramos in All the World Fast Board nine years. 70 

And today the Oscars are awarded 3300 C Theatre. 71 

Tens of millions of people watch the results live, and tickets cost hundreds of dollars. 72 

Today's movie studios spend millions to convince the academy that their films deserved to win. 74 

Sometimes the amount of money that a studio will spend when they're campaigning for an Oscar is even more money than the budget of the movie to begin with. 75 

He covers all things Oscars for The New York Times. 77 

If you want to get your movie taken seriously, you've got to spend. 78 

You've got to make sure that their ads out there that there are events that people are contextual izing you as an Oscar contender. 79 

And why do studios spend that much cash for an eight and 1/2 pound statuette? 80 

For a smaller studio like a 24 Annapurna? 81 

They're making movies for, you know, not a big budget a lot of time. 83 

But in order to be seen when the marketplace is choked with these big blockbusters and superhero films, they need that sort of extra headline making ability that an award Susan can provide. 84 

What about a bigger studio like Warner Brothers or Universal, as we've seen over the past couple decades, box office, it's aren't often considered Oscar contenders, and black clusters don't really need the exposure that in Nomination brings isn't the money enough of a reward? 85 

The people who work on these movies, by and large, are artists who want to be appreciated as artists by other artists in town So when they are in contention for an Oscar, it means something deeper. 86 

It satisfies them in a way that money can't only so it's really about talent, acquisition and tail on retainer. 87 

Yeah, it's about making sure that people are happy. 88 

You know, we see it all the time when a star has had success and then they want to do something more serious. 89 

They want to be understood as on artist with something to say. 90 

I didn't mean when Warner Brothers goes all in an Oscar campaign for Bradley Cooper or Ben Affleck or Clint Eastwood, it's not just for bragging rights or even a box office bump. 91 

No, the studio spends that cash is show commitment to its stars and keep them coming back for future projects. 92 

For example, Hollywood's biggest studio, Disney, is pushing harder and harder for its top blockbusters to be an Oscar contention. 93 

But the race isn't just between traditional studios anymore, so why does something like Netflix want to win an Oscar? 94 

I mean, it's already the talk of Hollywood. 95 

It's one of the biggest media companies on the planet. 96 

Why does it need the little gold man? 97 

I think Netflix is eager to disrupt any industry it can get its hands on. 98 

You know, they've already change the way that we watch television. 99 

Now they want to do the same for movies, just like any studio they want to be able to get in the Oscar race. 100 

So that top tier on tours will come to them to make movies instead of the big studios that are out there. 101 