Netflix and Amazon Earn Oscars

Silicon Valley is now officially a crasher of the biggest awards show in Hollywood. On Sunday, Netflix and collected the first streaming services Academy Awards while an independent studio known as A24 won the coveted Oscar for best picture.

After changing the landscape of television through online series, Netflix and Amazon are now in the ranks of elites of the film industry with four Oscars between the two.

Amazon Studios, part of e-commerce giant Amazon, won a trophy for Best Actor thanks to the work of Casey Affleck in Manchester by the Sea. The Oscar for best original screenplay was won by the same movie.

The other accolade for Amazon on the night came for the film in the category of best foreign language for The Salesman an Iranian drama that Amazon distributed in both the U.S. and Canada.

Netflix won for a short-subject documentary for The White Helmets, which looked at the rescue workers in Syria’s war torn areas.

However, A24, the independent, small studio that began in 2012, won the night’s most prestigious award of Best Picture for Moonlight, a drama that portrays a black, gay youth who comes to terms with his own sexuality in an impoverished neighborhood of Miami.

The entire movie cost $1.5 million to produce, which is a miniscule budget by standards in Hollywood.

The filmmakers gave thanks to A24 for going out on a limb in the movie that followed the coming of age of the youth.

Moonlight has earned $22.2 million at the domestic box office through the weekend, which is the smallest takes amongst any of the nominees for best picture.

Recognition at the Oscars can boost cinema, DVD as well as digital sales for films that win. Spotlight the winner for best picture last year took in more than $5.9 million at theaters in the U.S. and Canada following the award.

For Netflix and Amazon, the accolades give them bragging rights that can be used in marketing as a way to win new customers to their video streaming subscription services.

Amazon paid only $10 million at last year’s Sundance film festival for Manchester by the Sea. The movie has earned over $46.8 million in domestic cinemas and later in 2017 will appear on the Prime Video service of Amazon.

Amongst all movie studios, eight Oscars were won by Lions Gate Entertainment, while Walt Disney won four.

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