UPDATE: Oscar Ratings Dip 10 Percent From '10

UPDATE: The 83rd Annual Academy Awards attracted 37.6 million viewers, down 10 percent from last year’s telecast (which drew 41.7 million). Among adults 18-49, the drop was a more severe 12 percent (11.7 rating vs. 13.3) — ironic considering James Franco and Anne Hathaway were hired to bring in more younger viewers.

ORIGINAL STORY: Early indications are that Sunday’s Oscar telecast wasn’t a complete dud, ratings-wise at least.

Based on preliminary data, the critically panned James Franco/Anne Hathaway-hosted ceremony averaged a 24.6 rating and a 37 share in the metered markets. That represents a modest 7 percent decline compared to last year. More detailed numbers — including a total viewer tally and demo data — will be available later this afternoon.

In other Oscar news, a clip of one of Franco and Hathaway’s “lost” Oscar bits has surfaced on the web. Watch it and join me in wondering, “And they cut this why?”

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