Netflix makes Oscar history – once again
The annual publication of the list of Oscar contenders always brings some surprises, and the list that fell Monday morning was no exception. Netflix (NASDAQ: NFLX) helped add drama to the debates this year, making Oscar history the first streaming platform to win more nominations than any mainstream Hollywood film studio at the awards ceremony. most prestigious award in the industry.
Netflix has long sought the distinction of a Best Picture Oscar win, but has yet to achieve this lofty goal. Last year Alfonso Cuaron Rome won several of the Academy’s top awards – including Best Director, Best Cinematography and Best Foreign Language Film – but so far the first honor has been elusive.
Is this the year that Netflix finally wins its most coveted prize?
A revolutionary performance
The streaming leader won 24 nominations ahead of the 92nd Academy Awards, which will take place on Sunday, February 9, 2020. This included the recognition of Irish, who received 10 nominations, including nominations for Best Picture, Best Director for Martin Scorsese and nominations for Best Supporting Actor for Al Pacino and Joe Pesci.
Marriage story was another standout artist, receiving six nods including Best Picture, Best Actor for Adam Driver, Best Actress for Scarlett Johansson and Best Supporting Actress for Laura Dern. American factory was nominated for Best Documentary, showing that Netflix’s deal with Barack and Michelle Obama is paying off. Netflix also received nods for The two popes, I lost my body, and Klaus.
More importantly, Netflix had nominations in virtually every major category, including nods for acting, writing, and even visual effects. The streaming leader has even surpassed Disney, which received 22 nominations – even if one counts the contributions of the various studios acquired from Fox.
It should be noted that Netflix did not have any movies that matched Joker, the most nominated film of the year, which received 11 nods.
One more joker
In recent years, Netflix has embarked on a strategy of making big bets on big-budget movies from renowned directors like Scorsese and Cuaron ahead of awards season. Irish Rumor has it that Netflix cost as much as $ 125 million, making it one of the streaming specialist’s most expensive Oscar bets to date. The film was extremely expensive due to the advanced technology used in the film as the story spans decades.
Even a legendary director like Scorsese is no shoo-in. While Netflix grabbed a total of 34 Golden Globe nominations this year – more than any other studio or network – with 17 nominations for feature films and 17 nods for its television series, the streaming giant was all but ruled out when the statues were presented. Netflix received only two awards: one for Best Supporting Actress in a Motion Picture for Laura Dern in Marriage story, and one for Best Actress in a Television Series for Olivia Colman in The crown. This shows that while Hollywood is slowing down to accept the reality of streaming video, it is still not ready to fully embrace the paradigm.
The good news
Netflix lives or dies according to its number of customers, which recently exceeded 158 million and which is climbing. Generating Oscar buzz from its nominations and the publicity it creates may be enough to generate additional growth in subscriber numbers, which is the key. tech giant vital element. If the Golden Globe results are any indication, this might not be the year Netflix wins the top Oscar award, but it’s only a matter of time.
This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are heterogeneous! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.