Netflix Racks Up Big Wins at 93rd Academy Awards

Netflix has a big night at the 93rd Academy Awards, bringing home a total of seven Oscars and solidifying its position as one of Hollywood’s leading content machines.
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Netflix  (NFLX) - Get Report had a big night at the 93rd Academy Awards on Sunday, bringing home a total of seven gold-statue Oscars and solidifying its position as one of Hollywood’s leading content-making machines in a year when big screens were all but confined to peoples’ living rooms.

Netflix had come into Sunday night with 36 nominations, more than any other studio. While the streaming service failed to grab the prize in the best picture category and came up empty in the acting categories, it did win big for David Fincher’s “Mank,” and “Ma Rainey’s Black Bottom.”

Netflix also won Oscars for documentary feature “My Octopus Teacher” from Pippa Ehrlich, James Reed and Craig Foster; live-action short for “Two Distant Strangers” from Travon Free and Martin Desmond Roe about a man who gets stuck in a time loop and relives a deadly run-in with a cop; and animated short film “If Anything Happens I Love You” from Will McCormack and Michael Govier, which follows parents as they struggle to accept the death of their daughter who was killed in a school shooting.

Netflix and its streaming brethren were expected to do well this year, in part because of the pandemic and demand for at-home streaming content, though more recent drops in subscriber growth has raised questions about whether the likes of Netflix, Disney  (DIS) - Get Report, Amazon.com  (AMZN) - Get Report and others can continue to churn out the kind of award-winning content they have in recent years amid falling revenue.

After Netflix, Disney overall had the most wins at this year’s Oscars with five: Its Searchlight Pictures’ “Nomadland” picked up three wins (best picture, director for Chloe Zhao and actress for Francis McDormand) and Disney-Pixar got two, for “Soul” (best animated feature film and score), representing the first-ever Academy Awards for Disney Plus.

Warner Bros., owned by AT&T  (T) - Get Report, had three Oscars wins: two for “Judas and the Black Messiah” (supporting actor for Daniel Kaluuya and song for H.E.R.’s “Fight For You”) and one for “Tenet” (visual effects).

Amazon Studios’ “Sound of Metal” garnered two Oscar wins - for film editing and sound - after Amazon had nabbed 12 total nominations. Sony Pictures Classics also won a pair of Oscars for “The Father” (Sir Anthony Hopkins for actor, and for adapted screenplay).

Among other streamers at the 2021 Oscars, Apple  (AAPL) - Get Report had two nominations (for “Wolfwalkers” and “Greyhound”) and Hulu had one (for Andra Day in “The United States vs. Billie Holiday”) but both came away empty-handed.

At last check, shares of Netflix were down 0.12% at $504.95. Shares of Disney were up 1.25% at $185.31, shares of Amazon were up 0.07% at $3,343.22, shares of AT&T were down 0.29% at $31.32. Apple was down 0.23% at $134.01.

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