Netflix (NFLX +2.60%) is burnishing its reputation as the King of Streaming Video. On Monday, original films airing on its popular platform collected 35 Academy Award nominations. That's the most not only of any streaming video service, but of any movie distributor, period.
All told, 16 Netflix films got Academy nods. On the top of that list was Mank, a drama about the writing of the classic movie Citizen Kane filmed in period black and white. Mank received 10 nominations, which was not only the highest number for a Netflix offering, but also tops for any title nominated by the Academy this year.
Image source: Getty Images.
Other Netflix films winning nominations include The Trial of the Chicago 7, written and directed by ace screenwriter Aaron Sorkin, which like Mank is in the running for Best Picture.
Netflix edged out the most powerful traditional Hollywood studio, Walt Disney, for the number of its films nominated. Disney had 15 titles on the candidate list, including popular Disney+ offering Soul from its Pixar unit.
The coronavirus pandemic has played to Netflix's strengths as a go-to streaming option for millions of consumers forced to spend more time at home because of stay-in-place measures. The company continues to spend generously on original content, developing big-budget films previously the near-exclusive domain of the classic movie studios. So this leading position in the nominations list will further entrench its position as a major creative force in the industry, as well as a popular consumer service.
That said, on Monday Netflix's shares lagged behind the S&P 500 index. They closed 0.4% higher on the day, while the index advanced by nearly 0.7%.
