Oscars 2020 Update: Netflix didn’t see this coming.
Netflix walked into this year’s Oscars proudly with 24 nominations — the most of any studio — expecting to dominate award season’s biggest night the same way it’s dominated the entertainment industry.
Instead, it walked away practically empty handed.
The streaming giant barely made it out with two awards: Best Documentary for American Factory (produced by President Barack and Michelle Obama’s production company) and Best Supporting Actress for Laura Dern.
To say Netflix was Heart broken would be putting it mildly.
Its biggest films — The Irishman and The Two Popes went unawarded.
Only just a week prior, Netflix’s studio chief Ted Sarandos rebuked claims that its lack of awards at previous award shows is part of a “backlash to a tech giant that is upending entertainment-industry business practices and threatening Hollywood power hierarchies,” -New York Times.
“A pushback? Nobody can say that with a straight face,” Sarandos said. “We got 24 nominations, the most of any studio. Our films have been honored across the board.”
Netflix’s Oscar push has been aggressive. Some industry competitors have estimated that Netflix spent approximately $70 million on its Oscars campaign — much higher than what most studios spend. Netflix hasn’t shied away from its Oscar ambitions, but the company is trying to increase its film output and become a full fledged studio in 2020.
Award show prestige is important to the company — especially when it comes to drawing in the best talent, like Martin Scorsese. Netflix has proven over the last few years that it can secure the nominations, and even win from time-to-time, but getting the big wins are still a struggle. It’s clear that while Netflix moved from the kids table to sit with the adults, it’s still the odd one out right now.