Compare this to the music industry and the Grammy Awards. No one watches the Grammies anymore (for some value of "no one"). But people are still listening to m

Compare this to the music industry and the Grammy Awards. No one watches the Grammies anymore (for some value of "no one"). But people are still listening to music, and money continues to be made. There is still a music industry, albeit increasingly dominated by older artists and material. People still go to concerts (hello, Taylor Swift). The Oscars have no real purpose anymore, either, but people still consume video content; just on their home screens. The big "movie and TV" companies will continue to churn out crap to fill the void, and consumers will still search for some opinions they respect as to the content worth watching. People in the industry will still seek validation that they're something more than disposable units like K-Pop "stars." Next evolution: awards shows move to subscription channels, so people in the industry and anyone who really wants to can watch them. Like most baseball games.