The Academy of Motion Picture Arts and Sciences launched a major fundraising campaign on Friday to raise $500 million in view of the next centenary of the Oscars, in 2028. The initiative called “Academy100” aims to promote the diversification of funding from this professional organization which plays a key role in the promotion of new filmmakers and the preservation of films, as well as in the presentation of the annual Oscars.

The popularity of the American movie high point has declined considerably in recent years as the Academy’s lucrative broadcast deal with ABC comes to an end. “The Academy will soon enter a new century and we want to ensure that we remain a leading force for the international world of cinema,” its director Bill Kramer said in a statement.

“Like all strong organizations, we need a diverse and sustainable base of support.” The campaign has already raised more than $100 million in pledges. The approximately 10,000 members of the institution, cinema professionals including directors, producers and actors, are invited to put their hands in their wallets to the extent of their success. “We will travel the world and do a lot of work in the United States – working with philanthropists, corporations, foundations, Academy members, film industry professionals, patrons and more again to bring them closer to our programs and obtain wide-ranging support.”

The Academy has become much more international and diversified in recent years. The fundraising campaign aims to “deepen (its) global influence,” added Bill Kramer. Despite a slight rebound, the audience for the Oscars ceremony remains well below its historical levels.

21 million people watched this year as Oppenheimer supplanted rivals like Barbie for the best picture statuette. Just ten years ago, viewers exceeded 40 million.