Amazon (NASDAQ:AMZN) and Netflix (NASDAQ:NFLX) Win Their First Oscar Awards

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academy awards 2017

Silicon Valley made a huge inroad into Hollywood on the biggest award night on Sunday, with Amazon.com (NASDAQ:AMZN) and Netflix (NASDAQ:NFLX) collecting their very first Academy Awards for their streaming services. Finally some good luck for these online services. The popular streaming platforms have spent years making the rounds at major film festivals by coming up with original content, without much luck.

Amazon Wins Three Academy Awards

This time, it was different, though. Between them, Amazon and Netflix won four awards. Amazon Studios, which is a unit of the e-commerce business, got the golden statue for the Best Actor award for “Manchester by the Sea” where Casey Affleck portrays a grieving man. The movie also received the best original screenplay award. The third award for Amazon was in the best foreign language film category. Amazon distributed the Iranian film “The Salesman” in the US and Canada.

Jeff Bezos, the Amazon CEO, was visibly gleaming in the audience as the announcements were made. Earlier, Jimmy Kimmel the host, while referring to Amazon’s best picture nomination joked in Bezos wins, the “Oscar will arrive in two to five business days and might be stolen by a GrubHub delivery guy”.

Netflix Wins One Award

Netflix won the academy awards in the documentary short-subject category. It was for the 40-minute film “The White Helmets” that looks at rescue workers in Syria.

Netflix (NASDAQ:NFLX) was the first major streaming service that received an Oscar nomination, thanks to The Square. However, they are yet to win it for a feature film. This time, they had three nominations, for the best documentary short, and the best documentary categories. The best documentary award was lost to O.J.: Made in America.

Last year, they had campaigned vigorously for Beasts of No Nation, which won Golden Globe, British Academy, and many other nominations. But it failed to win anything major in the end. However, Netflix did win an Oscar nomination for the documentary “The Square” in 2014, and then again last year for “What Happened, Miss Simone?”

Oscars and other big awards are important for both Netflix and Amazon (NASDAQ:AMZN). It gives them the bragging rights that can be used in marketing to bring customers to their subscription video services. Besides, nominations and wins can boost DVD, theater, and digital sales. For instance, Spotlight, which won the Best Picture award last year made $5.9 million in the United States and Canada after winning the award.