Nominees starred in films released between August 1, 1927 and August 1, 1928, when the average cost of a movie ticket was twenty-five cents. Those who attended had to pay a $5 admission fee, which was equivalent to the cost of twenty movie tickets during that time. So not only did the Awards lack suspense, they weren’t exactly the most affordable option for a struggling actor. Not surprisingly, out of the 270 guests who attended, the majority of them were members of the Academy.
— The Oscars’ Humble Beginnings, Paste magazine.
