What is the importance of awards in film industry?

Awards have great importance in film industry. Because it takes good role in build up the film industry like now. Awards are actually providing to encourage the persons who are outstanding in his profession and who are to improve their talent in their career. Hence awards have the major role in film industry to encourage and to promote and appreciate the talent.

There is no importance.

It's a big spotlight spectacle for popularity and promotion, by/for those interested in that kind of side of the industry.

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Still kicking and it hurts.

Op goes pattern "answer by myself" is so..

$$$$$$$$$$$$$

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5-time MoFo Award winner.

They're fun to watch, and important to the industry, despite the fact that the Best Picture winner 90% of the time is dead wrong.

Well, I'd say it's all about publicity. Get the word around that you were voted (or at least nominated) as one of the best in the business that year, and you become more wanted by the studios (typically). This, of course, can lead to the big bucks!

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"I am Ring-winner and Luck-wearer; and I am Barrel-rider!"

Honeykid has got it right...it all about the dough. Well maybe not back in the say when the first Academy Awards started as they were more of a private dinner in which the film industry recognized outstanding members. But these days, yeah...all about the buck.

Marlon Brando's stolen Oscar looks nice on my fireplace.
You can pee next to Brad Pitt in the urinals.

Thank you for your great comments.

1. It offers a sense of quality control for the product (because otherwise film would just be Mcdonalds)
2. It recognizes talent and films that the masses might miss because it wasn't backed by a 40 million dollar ad campaign.
3. Preservation, it distinguishes artists and films for people to want to go back and see.

This is pretty much it.

Also, let's not forget, studies have shown that a major nomination alone (acting, directing, writing) could equal perhaps 20 million at the box office. And with a win, It could equal up to 35 million. Even a flop film could make money with a nomination.

Aside from renegotiation for the studio, and prestige (all that nonsense), It's all about the bottom-line. Getting nominated is good for business.

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