More and more mainstream news outlets are creating sections of their websites devoted to the ramp-up to the Academy Awards ceremony and broadcast on Sunday, according to the New York Times.

The move to create Oscar-centric information sites is an attempt by the media properties to build readership loyalty - which often can translate into print subscribers. The increased audience both online and in print can then be sold to advertisers looking to reach the wider audience.

The coverage of Oscar season has turned into as much of an event as the awards ceremony itself, and advertisers are paying a premium to sponsor sites, as L'Oreal has done by sponsoring Vanity Fair's site.

Sites are scrambling to produce original content to hook readers, including creating online video and insider blogs. Magazines are hoping that people will subscribe online since it's a cheaper way than direct mail to acquire customers.