Film Academy Financials Reflect A Rocky Fiscal Year
deadline.comInvestment income crashed, awards expense rose, museum operating costs kicked in: All in all, the Academy of Motion Picture Arts and Sciences has had a rocky time of it, according to its just-released financial report for the fiscal year ended June 30, 2022.
As the dust settled, net assets fell to $844.5 million from $893.8 million at the beginning of the year, a decrease of $49.4 million, after having risen by $104.6 million in 2021.
Revenue fell to $170.3 million, down 15 percent from $201.7 the earlier year. But the big hit came from the investment portfolio, which saw a $47.3 million loss, after having posted a gain of $73.4 million in fiscal 2021.
Academy officials are expected to assure members that the investment loss, which reflected a downturn in financial markets, actually marked a much smaller decline than the general drop in bond and equity markets during the year.
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