At the just concluded Academy Awards, the presenters mistakenly read the Best Picture wrongly as ‘La La Land’ instead of ‘Moonlight’, as they received an incorrect card.
The mistake was quickly rectified, but not before Pricewaterhouse Coopers (PwC), the company which handles the award process, took a huge hit. It has been doing this process for past 80 years.
The brand damage to the firm could be a huge one. It could significantly dent their brand. The gaffe occurred in front of a much broader audience.
PwC immediately shot an apology to both the films, presenters and the audience. They accepted the fact that wrong envelopes were given. It was good on the part of PwC to move in so quickly but it will need to do much more to repair its reputation.
This setback may open the doors for Deloitte, Ernst & Young and KPMG. Smart competitors will take advantage of this and may even rub a pinch of salt on the wounds. This surely has to be the candidate for the “Gaffe of the Year”.