Netflix Loses at the Oscars but There's a Silver Lining
It wasn't the Oscars night Netflix (NASDAQ: NFLX) wanted.
The streaming giant came into the 92nd Academy Awards with 24 nominations, more than any other studio, but Netflix left with just two trophies. The categories it won were Best Documentary for American Factory, and Laura Dern took home the Best Supporting Actress award for her role in Marriage Story.
The Irishman, the Martin Scorsese-directed crime story that cost a reported $160 million, had garnered 10 nominations, but went home empty-handed. Meanwhile, Netflix had campaigned aggressively to take home some serious hardware. According to some estimates, the streamer spent as much as $70 million on things like advertising and consultants to promote its movies and win awards. Despite the nominations haul Netflix scored, those efforts clearly came up short at Oscar time.
Source Fool.com
