Netflix Underwhelmed with its Oscars Award Tally, Apple Got Best Picture

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Netflix Disappointed, Apple Won best Picture

The king of streaming is mostly known for its TV series but has been making a push into the motion pictures business over the last few years, having created popular and critically acclaimed movies. Netflix (NFLX.us) went into Sunday's 94th Oscar Awards, Hollywood's biggest night, with the most nominations than any other studio, competing with two movies in the Best Picture category.

These were the star-studded "Don't Look Up" and "The Power of the Dog", which led nominations with 12 nods and was perceived by many as the front-runner for the Best Picture statuette, having won the Golden Globe for Best Picture Drama earlier in the year [1]. However, it won only in the Directing category for Ms Jane Campion's work, leaving Netflix with just one victory. [2]

Apple (AAPL.us) won three awards with "CODA", including for Best Picture. Apple TV+ debuted in 2019 in the streaming world, while Apple Original Film made its world premiere last year. Apple's streaming platform may still be in a nascent stage, but created some waves in 2021 since its original TV series "Ted Lasso" got seven awards in September's Emmys, including for Outstanding Comedy Series. [3]

Warner Bros. & Disney Performance

The studio that landed the most victories however, was Warner Bros., with seven statuettes thanks to "Dune" which led the scoresheet with six wins. Warner Bros. is a Warner Media company, which is owned by telecoms giant AT&T (T.us). AT&T is refocusing to its core business and last month it announced the spin-off of Warner Media which will merge with Discovery. [4]

The Walt Disney Company (DIS.us) came in second, with six total victories along with Searchlight Pictures and Hulu. In last year's ceremony, Disney had clinched five Oscars, but these included the one for Best Picture, for Nomadland.

Streaming Platforms Potential

Netflix had an underwhelming presence this year with just one statuette, following last year's triumphant first place and the seven victories. Yesterday's ceremony was perhaps a step back for streaming platforms, since traditional producer Warner Bros. came on top, but still they had a good tally.

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Most importantly, Apple TV+ became the first streaming service to win the Best Picture Oscar for "CODA", following some highs profile nominations by Netflix in recent years, such as Martin Scorsese's "The Irishman".

Netflix had disappointed investors with January's earnings results, as it had projected the addition of just 2.5 million new paid subscribers in the first quarter of 2022 [5]. The results for that quarter are expected on April 19, so investors will be looking forward to the new user figures and the financial results.

Rival Disney+ which launched a little over tow years ago, has seen meteoric rise with 129.8 million paid users as of January 1 and a robust 37% year-over-year growth in the last reported quarter (Q1 FY2022). [6]

Nikos Tzabouras

Senior Market Specialist

Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. He has a long time presence at FXCM, as he joined the company in 2011. He has served from multiple positions, but specializes in financial market analysis and commentary.

With his educational background in international relations, he emphasizes not only on Technical Analysis but also in Fundamental Analysis and Geopolitics – which have been having increasing impact on financial markets. He has longtime experience in market analysis and as a host of educational trading courses via online and in-person sessions and conferences.

References

1

Retrieved 28 Mar 2022 https://www.goldenglobes.com/winners-nominees

2

Retrieved 28 Mar 2022 https://www.oscars.org/oscars/ceremonies/2022

3

Retrieved 28 Mar 2022 https://www.emmys.com/sites/default/files/press/emmys-winners-210919-v1.pdf

4

Retrieved 28 Mar 2022 https://about.att.com/story/2022/spin-off-interest-in-warnermedia.html

5

Retrieved 28 Mar 2022 https://ir.netflix.net/financials/quarterly-earnings/default.aspx

6

Retrieved 25 Jun 2022 https://thewaltdisneycompany.com/app/uploads/2022/02/q1-fy22-earnings.pdf

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