Netflix Dominates Golden Globes Nods, With ‘Mank’ and ‘The Crown’ Leading the Way (Picture source : Bloomberg) The streaming service received a jaw-dropping 42 nominations, in a year where almost every film in contention has been released online. Three women were nominated for best director, a first. Source : https://www.nytimes.com/2021/02/03/movies/live-golden-globes-nominations.html
The awards ceremonies like the Golden Globes are super important for Netflix, but it's not obvious at first. Producers, Directors, Actors, Writers, etc. are all somewhat skeptical of working with Netflix, since the awards are what drives their careers. If TV show gets watched by millions of people, but there's no chance of getting an award, why do business with Netflix? Netflix is also stingy with data about how well TV shows do, so there isn't much negotiating room for the cast. (How can you ask for a percentage of the box office gross, when all the customers are on subscription?) As a result producers and actors and don't want to work with Netflix. This results in Netflix having to MASSIVELY overpay people like Scorsese to make films like the Irishman (Wikipedia estimates this at $159–250 million). In effect, Netflix is trying to buy their way into Hollywood, and it's not going to come cheap. There is a second effect too, which is that writers don't want to make shows for Netflix either. Writers will walk down the strip, offering their story ideas to all the other big studios, with Netflix being the last stop. This is why Netflix content is pretty lackluster; all the good ideas don't even make to Netflix. All that's left are the ideas that no other studio wanted. Here is where the awards ceremonies come in. Despite being utter bullshit, it's the way Hollywood has settled on to advance the careers of people in industry. Netflix has traditionally been left out of these award ceremonies. For example, the Irishman had a limited theatrical release, which is completely contrary to Netflix's business model. The reason is so that the cast of the film could apply for the award ceremonies, which require the film to be shown in theaters. Getting back to why these award things are important: more Netflix shows getting awards means Netflix will get cheaper costs on making movies. Netflix will move up the trough for scripts, and won't have to pay as outlandish amount for talent. In other words, Netflix's operating margin is going to get better, and should show up in their P/E ratio.
I mean, since the lockdown has been started, and theatre has been closed for a long long, what better way to showcase the movie apart from streaming sites such as netlflix? It was such a good timing for them