Why Streaming Services Didn’t Get As Many Oscar Nominations As Expected in 2023
Streaming services have been on the rise. For example, 2020, 2021, and 2022 were great years for streaming services like Netflix, Apple TV, and Amazon Prime Video. These services reached record subscriber counts while also producing more Oscar-nominated movies than ever before. Unfortunately, though, 2023 is a different story.
For reference, Netflix had 36 Oscar nominations in 2020 and 27 nominations in 2022. But, in 2023, the streaming giant only received 16 Oscar nominations. The same story can be seen with other streaming services, too.
In total, Netflix, Amazon, and Apple TV only received 19 nominations between them, less than Netflix got in 2022 alone. But what has sparked this decline, and what does it mean for the future of streaming companies at the Oscars?
Why Didn’t Streaming Services Get as Many Oscar Nominations in 2023?
There isn’t a single reason why streaming companies failed to gain recognition at 2023’s Oscar ceremony. This decline is the result of several factors.
1. The Impact of a Pandemic on the Film Industry
While it may seem like a thing of the past for many of us, the impact of the Covid-19 pandemic can still be seen in the entertainment industry. Streaming services saw explosive subscriber growth during global lockdowns, but cinemas experienced a lull in business, with people stuck at home looking for things to watch.
You can see evidence of this in Netflix’s subscriber growth from 2019 to 2022. According toStatista, in Q1 of 2019, this streaming company had around 149 million paying subscribers. And whileNetflix lost subscribersin 2022, the company still had 230 million paying subscribers in the last quarter of 2022.
In short, traditional production companies have faced a challenging few years but are now enjoying a resurgence of avid cinema-goers. Netflix and othergreat streaming servicesare experiencing the opposite as people can go out and about once again.
2. Different Production Strategies
Modern streaming companies and traditional movie studios have taken a different approach to production over the last few years. Once again, Netflix serves as a good example of this.
What comes to mind when you think about the best original content that’s hit the Netflix platform? Better Call Saul, Stranger Things, Russian Doll, The Umbrella Academy, and many other incredibly popular series. Netflix also released great films and TV shows in 2022, but they are dwarfed by the popularity of the company’s flagship shows.
The same can be said for other streaming platforms, too. For instance, Amazon Prime Video has released big titles like Rings of Power, The Grand Tour, and more, while Apple TV+ is home to the likes of Severance, Mythic Quest, and Foundation.
Streaming services prioritize grand, high-budget multi-season series, which helps them retain subscribers. The reason for this is reflected byNetflix’s own statistics website. The streaming platform’s most popular feature film, Red Notice, had a viewership of 364,020,000 within its first 28 days.
By contrast, Netflix’s most popular series, Strange Things Season 4, had a viewership of 1,352,090,000 in its first 28 days online. Series provide more content than feature films, ensuring subscribers stick around and keep watching.
With that said, Oscars are only awarded to feature films. And while you canstream some Oscar-nominated movies, traditional movie studios continue to make feature films because they are great for selling theater tickets and digital rentals. This makes it easier to see why streaming services are receiving fewer Oscar nominations, as they increasingly prioritize series.
3. The Academy Has the Final Vote
Oscar nominations aren’t based on review scores; they are picked by a panel of around 9500 members of the Academy of Motion Picture Arts and Sciences, also known as The Academy. And this panel consists of a blend of movie stars, musicians, directors, cinematographers, and other creative and influential people.
Such a small pool makes it impossible for the final vote to be representative of the whole movie-watching audience. This means that while streaming services often find success with the masses by taking a different approach to feature films, more traditional titles are likely to get more nominations.
What Do Low Oscar Nomination Numbers Mean for Streaming Services?
In the end, results from awards ceremonies like the Oscars are unlikely to have a major impact on streaming services at their current trajectory. There is a reason that so many companies have started to create original streamable content: it sells really well.
Besides, The Academy Awards isn’t the only ceremony dedicated to modern media. Streaming companies do well at the Emmys and Grammys awards ceremonies dedicated to TV series and music, respectively.
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