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How Much Money Will NBC Lose For Canceling the Golden Globes

2008 Golden Globes: More Bronze Than Gold

You've probably heard by now that the Golden Globes have been canceled this year, and in its place will be a much abbreviated, much less glamorous press conference. The writers' strike has already had a rippling effect on the economy, and the nearly non-existent awards show could tack on an additional loss of $80 million.

It's projected that NBC will be out anywhere from $10 million to $15 million in advertising revenues — there's no need for glossy commercials without the glitzy red carpet. Then there are the promotional aspects of the show for which losses are impossible to calculate, and the businesses of stylists and florists that will suffer intangible losses.

When asked for his opinion of the damage from canceling the show, designer Allen Schwartz (his label is ABS) said, "I think it's a huge, huge, huge, hit. It's tremendous exposure for the type of style that's on trend. That's what I mean. The exposure is immeasurable."

I'm just keeping my fingers crossed that the Oscars will be a go next month.


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