The second factor is the diversity of other revenue streams.

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While fragile, intangible cultural heritage is an important factor in maintaining cultural diversity in the face of growing globalization.

UNESCO: Intangible Cultural Heritage

Kilday said the movies favored by the academy also factor in the lack of diversity.

CNN: Cover story: Where's the diversity at the Oscars?

Managers should take note that "a raft of research published over the last decade has shown that gender diversity and the right balance of talent can be a contributing factor to business performance, so there is a strong business case to ensure that we nurture female talent from the very start of their careers", said Ms Jackson.

BBC: Graduate pay gap - women paid thousands less than men