The same thing was said about the Olympics. Their ratings were down compared to previous years, but there's no question that the Olympics and the Oscars sucked viewers away from other shows. The headline for cable ratings Sunday night is how a number of regular series scored their all-time low because of the Oscar telecast.
So the conclusion here is if people were watching TV in real time, the likelihood was they were watching the Oscars. The problem is fewer and fewer people watch TV in real time. That goes for the Oscars, the Olympics, the Super Bowl, and any other event you can come up with. It's similar to radio, where at one time radio stations got 20 shares. Not any more. The more choices people have, the more it dilutes the numbers.
It's not like they're not aware of these things, but quite often, they'll watch a few days later, or engage with other people in social media or message boards like this one. The folks at the Academy and the networks are trying to capitalize on that in some way, building their own engagement platforms and that kind of thing. But the days of people sitting on the couch passively watching a TV show without wanting to comment on it are ending.