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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.


Join The Conversation
Green Green 9 years
I think it is a shame that our economy depends on the entertainment industry to be stable or whatnot. i agree
Nyrina-Windu Nyrina-Windu 9 years
I liked your comment because I believe the same too
Nyrina-Windu Nyrina-Windu 9 years
Great comment >lieclose< I loved your response because I believe the same.
lieclose lieclose 9 years
Maybe if the television stations/production companies would pay their workers what they deserve, and give full time employees benefits (instead of naming them 'contractors'), the strike would end.
bellanatella bellanatella 9 years
j2e1n9 j2e1n9 9 years
I love ABS too! I agree! I dont feel sorry for the execs, but I do feel for all the other businesses that are suffering. The economy sucks right now. I'm suffering, too :(
ActualBettina ActualBettina 9 years
ABS has the greatest dresses. I've bought so many flattering dresses by Allen Schwartz and they always look like they cost five times what a girl pays for them. And they fit a variety of body types. I think we'll get by without the Globes. The Oscars are another thing all together. Between now and then we'll have the freedom to set our own trends and buy what each of us individually wants to wear. Or find it in the closet if it still fits.
Lovely_1 Lovely_1 9 years
This really does suck :(
LaLaLaurie06 LaLaLaurie06 9 years
Why can't they still do the commercials? Stuff is going to be broadcast and personally, I'd rather watch the replacement programs they'll show than the actual awards ceremony, so the advertisers are missing out on my viewing if they pull out!
SkinnyMarie SkinnyMarie 9 years
I think it is a shame that our economy depends on the entertainment industry to be stable or whatnot.
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