At last night’s Oscars, CODA made a big business move: It was made by a streaming service and won best picture, making it the first time a streaming service won that award.
Apple TV+ paid a record $25 million for the movie, which tells the storey of the only hearing member of a deaf family. It was a big hit at the Sundance Film Festival last January.
Finally, Apple finished the job that has been going on for a long time. streaming services have outplayed Hollywood’s old-school movie studios by having Godzilla-sized budgets and huge audiences of tens of millions of subscribers. They’ve also set the stage for a future in which movies are important not just on the big screen, but also on the small one.
Is this true? A streaming service or a movie that premiered at the same time in theatres and at home were half of the 10 best picture nominees this year.
The fact that Apple won is a big step forward for streaming, but Netflix is probably angry that it didn’t get there first. At least four years, the company has been trying to get a best picture award for at least one of its movies. Netflix’s The Power of the Dog was the favourite to win the category going into the awards show. It was also the most popular movie.
So, where do movies go from here?
Some people think that the rise of streaming services will eventually break down the boundaries between TV and movies. Others say that superheroes, reboots, and other movies that are sure to make money will take over the movie theatre. These movies don’t push the medium forward in a good way.
if you look at a list of the top 10 grossing movies in the US box office in 2021 and the top 10 movies that were nominated for best picture, there is no match.
They made about 25% of Spider-Man: No Way Home’s box office money in the United States.