Netflix’s significant win at the Golden Globes with “Emilia Pérez” has reignited discussions about its potential to secure a Best Picture Oscar. However, industry experts suggest that such an achievement may no longer hold the same weight for the streaming giant.
Netflix, after years of intensive campaigning for the coveted Best Picture Oscar, seems closer than ever to achieving this goal. “Emilia Pérez,” which triumphed at the Golden Globes, could be the film that finally brings home the Oscar. Yet, the irony lies in the timing, as media analysts assert that winning the Oscar now would not significantly impact Netflix’s business trajectory.
The streaming service has already cemented its place in Hollywood, boasting collaborations with top filmmakers and actors. According to Ross Benes, a senior analyst at EMARKETER, Netflix’s potential Oscar win would serve as favorable public relations but hold little business significance. “It’s clear that the best movies sometimes go straight to streaming,” Benes noted, especially as box-office returns dwindle.
The legitimacy of Netflix in the film industry has been widely accepted. Robert Rosenberg, a former Showtime executive, highlighted the changes brought about by the pandemic, during which many top films premiered on streaming platforms, blurring the lines between traditional cinema and streaming services.
Over recent years, Netflix has pivoted its focus toward live sports and other streaming content areas. The company’s engagement in broadcasting live sports events marks a critical expansion of its content offerings. “Live content is becoming a key battleground for Netflix,” Rosenberg emphasized, pointing to the streamer’s recent ventures.
This strategic shift is evident with Netflix’s upcoming “Monday Night Raw” premiere, a product of its considerable investment in WWE. The move towards live sports illustrates a broader strategy beyond traditional film accolades, reflecting Netflix’s evolving business goals and its emphasis on creating diverse content offerings.
While winning a Best Picture Oscar could add to Netflix’s accolades, its strategic priorities indicate that the company is looking beyond traditional cinematic recognition, focusing instead on areas that bolster its market position and content diversity.
Source: Businessinsider
