Dolby Theater, Hollywood, will Host Oscars for the Next 20 Years

The Academy has signed a new deal with Dolby to maintain the Oscar’s ceremony in Hollywood at the former Kodak Theatre, now renamed Dolby Theatre. The Academy of Motion Picture Arts and Sciences had been considering moving to a new venue and leaving the iconic Kodak Theatre to host the Oscars at the Nokia Theatre. The move followed the recent filing of bankruptcy by Kodak and the Hollywood & Highland Theatre lost its sponsorship. The auditorium has hosted Oscars for the last decade and cost 94 million to build in 2001. But Dolby Company has stepped in as the new sponsors for the theatre.

Academy president Tom Sherak told the media, “The board wanted to be in Hollywood … It didn’t matter what the deal was, the board wanted to be there.” Kodak had been paying $3.6 million for annual naming rights of the theatre.

The Dolby deal was set up by the owners of the auditorium, the CIM group. However, the Academy approved heartily. As Sherak told the media, “We are thrilled that Dolby is now the name of the theatre because Dolby stands for excellence … It’s a no-brainer for us.”

Dolby has stated that it intends to “create a world-class showcase for Dolby’s current and future technologies, beginning with the company’s revolutionary new Dolby Atmos sound technology released last week.”

The contract comes at a good time for Dolby, when the company is geared to launch its new audio system for movie theatres to provide a more “immersive” experience. The auditorium would now be fitted with the latest Dolby equipment, further enhancing the acoustic experience of the Oscars.

The alternative that had been considered, the Nokia Theatre has 7100 seats and hosts shows like the Emmy awards and the American Music awards. However, the Academy wanted to stay where it was unless finding a new sponsor failed.