SINGAPORE (Mar 12): And the winner at last Sunday’s 2018 Oscars, Hollywood’s 90th annual Academy Awards gala, once again was not Tinseltown’s legendary big studios, but tech players such as Netflix, Hulu, Amazon.com, Apple, Google’s YouTube and others who are upending the movie and TV business with their own original video content. In recent years, the big winners at award galas such as the Golden Globes and Oscars have been Amazon, Netflix or Hulu rather than Walt Disney Co, Sony Corp’s Columbia Pictures, Viacom’s Paramount, 21st Century Fox, Comcast Corp’s Universal and Time Warner’s Warner Brothers.
The Academy Awards may no longer enjoy the massive ratings they once did — the March 4 audience was 20% lower than last year’s awards — but it is still one of the most talked-about shows globally. And while Amazon did not have as good a night as it did a year ago when its films were nominated in seven categories, Netflix had eight nominations and won one.
The video streaming pioneer’s shareholders may not have helped boost Oscar’s viewership, but they were clearly applauding the next morning by sending its shares skywards. In two trading days following the Academy Awards, Netflix, already the highest-flying large-cap stock this year, surged 8%. Netflix stock is up 70% in the first nine weeks of this year, 162% since January last year and a whopping 3,842% since September 2012.