Streaming companies have been on the rise. For instance, 2020, 2021, and 2022 had been nice years for streaming companies like Netflix, Apple TV, and Amazon Prime Video. These companies reached report subscriber counts whereas additionally producing extra Oscar-nominated motion pictures than ever earlier than. Sadly, although, 2023 is a distinct story.
For reference, Netflix had 36 Oscar nominations in 2020 and 27 nominations in 2022. However, in 2023, the streaming large solely obtained 16 Oscar nominations. The identical story could be seen with different streaming companies, too.
In complete, Netflix, Amazon, and Apple TV solely obtained 19 nominations between them, lower than Netflix bought in 2022 alone. However what has sparked this decline, and what does it imply for the way forward for streaming firms on the Oscars?
Why Didn’t Streaming Providers Get as Many Oscar Nominations in 2023?
There is not a single motive why streaming firms failed to realize recognition at 2023’s Oscar ceremony. This decline is the results of a number of components.
1. The Influence of a Pandemic on the Movie Trade
Whereas it could appear to be a factor of the previous for many people, the affect of the Covid-19 pandemic can nonetheless be seen within the leisure business. Streaming companies noticed explosive subscriber development throughout world lockdowns, however cinemas skilled a lull in enterprise, with individuals caught at house in search of issues to look at.
You possibly can see proof of this in Netflix’s subscriber development from 2019 to 2022. In response to Statista, in Q1 of 2019, this streaming firm had round 149 million paying subscribers. And whereas Netflix misplaced subscribers in 2022, the corporate nonetheless had 230 million paying subscribers within the final quarter of 2022.
In brief, conventional manufacturing firms have confronted a difficult few years however at the moment are having fun with a resurgence of avid cinema-goers. Netflix and different nice streaming companies are experiencing the alternative as individuals can exit and about as soon as once more.
2. Totally different Manufacturing Methods
Trendy streaming firms and conventional film studios have taken a distinct strategy to manufacturing over the previous few years. As soon as once more, Netflix serves as instance of this.
What involves thoughts when you concentrate on one of the best unique content material that’s hit the Netflix platform? Higher Name Saul, Stranger Issues, Russian Doll, The Umbrella Academy, and plenty of different extremely in style collection. Netflix additionally launched nice movies and TV reveals in 2022, however they’re dwarfed by the recognition of the corporate’s flagship reveals.
The identical could be stated for different streaming platforms, too. As an example, Amazon Prime Video has launched large titles like Rings of Energy, The Grand Tour, and extra, whereas Apple TV+ is house to the likes of Severance, Mythic Quest, and Basis.
Streaming companies prioritize grand, high-budget multi-season collection, which helps them retain subscribers. The explanation for that is mirrored by Netflix’s personal statistics web site. The streaming platform’s hottest characteristic movie, Pink Discover, had a viewership of 364,020,000 inside its first 28 days.
Against this, Netflix’s hottest collection, Unusual Issues Season 4, had a viewership of 1,352,090,000 in its first 28 days on-line. Sequence present extra content material than characteristic movies, making certain subscribers stick round and maintain watching.
With that stated, Oscars are solely awarded to characteristic movies. And whilst you can stream some Oscar-nominated motion pictures, conventional film studios proceed to make characteristic movies as a result of they’re nice for promoting theater tickets and digital leases. This makes it simpler to see why streaming companies are receiving fewer Oscar nominations, as they more and more prioritize collection.
3. The Academy Has the Closing Vote
Oscar nominations aren’t based mostly on overview scores; they’re picked by a panel of round 9500 members of the Academy of Movement Image Arts and Sciences, often known as The Academy. And this panel consists of a mix of film stars, musicians, administrators, cinematographers, and different artistic and influential individuals.
Such a small pool makes it inconceivable for the ultimate vote to be consultant of the entire movie-watching viewers. Which means whereas streaming companies typically discover success with the plenty by taking a distinct strategy to characteristic movies, extra conventional titles are more likely to get extra nominations.
What Do Low Oscar Nomination Numbers Imply for Streaming Providers?
In the long run, outcomes from awards ceremonies just like the Oscars are unlikely to have a significant affect on streaming companies at their present trajectory. There’s a motive that so many firms have began to create unique streamable content material: it sells very well.
In addition to, The Academy Awards isn’t the one ceremony devoted to trendy media. Streaming firms do nicely on the Emmys and Grammys awards ceremonies devoted to TV collection and music, respectively.
