Netflix film Roma is hotly tipped in the best picture category Oscar at Sunday night’s Academy Awards. Were it to win, it would mark a significant moment for digital media in general, and Netflix in particular. Lucas Shaw wrote on Bloomberg News that it would be proof that the company has gone from being a techy outsider to Hollywood royalty. With increased investment in original content, it looks like a tech company will be winning an Oscar in the very near future.
“Roma” is the first nominee for best picture that was essentially a digital release — though it had a limited theatrical run — and Netflix would be the first technology company to clinch Hollywood’s top prize. Whether or not Netflix wins, an online movie will certainly be crowned best picture sooner or later, said Rich Greenfield, an analyst with BTIG LLC. Amazon.com Inc. and Apple Inc. are both spending billions of dollars on programming, and even Walt Disney Co. plans to release digital movies that won’t appear in theaters.
Check It Out: With Roma, Netflix Could Become Hollywood Royalty