Reply #22: Here is the info on how it is done. [View All]

[Left Hook]

Nomination ballots are mailed to members of the Academy of Motion Picture Arts and Sciences in December, and must be returned within two weeks in order for their vote to be counted. The secret ballots must be returned directly to PricewaterhouseCoopers, the accounting firm in charge of processing the votes.

PricewaterhouseCoopers tabulates the votes and the final list of nominees is announced in January. Another round of secret voting takes place, with members of the Academy only able to vote on the final nominees listed in each category. Those ballots must be returned to PricewaterhouseCoopers within two weeks. After the ballots are tabulated, only two partners of PricewaterhouseCoopers will know the results until the envelopes are opened on stage during the Academy Awards presentation.

SOURCE: The Academy of Motion Picture Arts and Sciences
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If all people voted, we would've had Superman Returns nominated for best picture, or Star Wars would've won best picture in 1977, E.T. would win in 1982, etc. I don't like the Oscars anyways because they don't care for what the audience thinks.