Oscar ratings down by 9% from last years ratings
(variety.com)
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That's also before widespread of high speed internet and everyone was still stuck on cable for entertainments
Which should have the opposite effect though. Think about it this way, the superbowl had around 90 million viewers in 1998 and around 125.6 million this year, even with population growth adjusted that’s still a larger percentage of viewers. The Oscar’s became a joke because Hollywood has not produced the same caliber of material compared to the 90s.