Netflix Wins 7 Oscar Awards, Nearly Doubling its All-Time Mark

Netflix Wins 7 Oscar Awards, Nearly Doubling its All-Time Mark

Netflix (NASDAQ: NFLX) entered the Oscars with a total of 36 nominations and was awarded seven trophies, the biggest winner of the night. The platform almost doubled its Oscar wins in one night, nevertheless, it missed out on the best-picture Oscar.

The wins included Best hairstyling and makeup for “Ma Rainey’s Black Bottom,” Best costume design for “Ma Rainey’s Black Bottom,” Best documentary feature for “My Octopus Teacher,” Best live-action short for “Two Distant Strangers,” Best animated short for “If Anything Happens I Love You,” Best production design for “Mank” and Best cinematography for “Mank.”

Mia Neal and Jamika Wilson, two of the individuals that worked on hair and makeup for “Ma Rainey’s Black Bottom,” are the first Black women to receive a nomination for best hair and makeup, as well as the first to win. Makeup artist Sergio Lopez was also part of the Oscar-winning team.

Due to the ongoing pandemic, the Academy of Motion Picture Arts and Sciences, which runs the Oscars, were forced to ease its eligibility rules. Streaming-only releases were to be considered for nominations, so long as the films were initially prepared to hit the big screen.

Netflix has slowly progressed into the giant it is today, attracting top tier talent. Recently, the platform offered up names like Aaron Sorkin, Viola Davis, Chadwick Boseman, David Fincher, Sacha Baron Cohen, as well as Trent Reznor and Atticus Ross.  

Despite the positive news, Netflix shares have plunged 6% since the beginning of the year, totaling a market cap of USD224 Billion.

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