Netflix (NFLX -3.92%) has long believed that by packing its library with the best quality content it can make (or find), the company will continue to attract new viewers. Netflix recently ran the table at the Golden Globe nominations, beating out a host of contenders. Its strategy is bearing fruit as subscribers grew by 22% year over year in the fourth quarter.

On this clip from Motley Fool Live, recorded on Feb. 10, "The Wrap" host Jason Hall, and contributor Danny Vena discuss why this was such a groundbreaking year for streaming services and what it means for Netflix.

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Jason Hall: Danny Vena, there's a theme. You're smarter, happier, and richer over the past few months. I like this.

Danny Vena: There has been. They announced the Golden Globe nominations here last week and it was notable for a number of reasons, not least of which is the one I'm going to get to in a moment.

But there were three women that were nominated for best director, which is a first. This was a year when nearly all of the nominations were not released in theaters. They were released on streaming video, so that's a first time for that. Which leads you to my point, which is, this is further evidence of the proliferation of streaming, supplanting traditional and broadcast television.

The big winner out of the Golden Globe nominations was Netflix that nabbed a jaw-dropping 42 nominations during the year. To put that in perspective, Disney (DIS 0.18%) came in second with 25; Warner Media rounded out the top three with 13; seven of those went to HBO and HBO Max; and Amazon (AMZN -1.64%) Prime Video came in with 10.

What I was pretty excited about was the fact that Netflix was strong in both the movie category and the television category. Netflix Original movie Mank and the Aaron Sorkin original that it bought, The Trial of the Chicago 7, were both right up there at the top of the pack. In the television category, you had The Crown, Ozark, Queen's Gambit, and Ratchet.

I wanted to mention that Ratchet was one of the first fruits of the collaboration with Ryan Murphy, who, they made a five-year deal a couple of years back that paid the guy as much as $300 million. If you don't know who Ryan Murphy is, you've probably heard of Glee or American Horror Story or Nip/Tuck or 911, or Feud, or American Crime Story: The People Versus O.J. Simpson. Those are all products from the mind of Ryan Murphy. So Golden Globe nominations, streaming is eating the world. Yay, Netflix.