Netflix dominated the 2021 Golden Globes with six wins, triple its closest competition. The Crown won in all four of its nominated categories while The Queen’s Gambit received two awards. Importantly, both series were equally well supported by viewers, with over 16 billion minutes of streaming for the Crown in 2020 and more than 62 million accounts streaming the Queen’s Gambit in its first month.
The accolades come as no surprise. While other studios and networks struggled to produce and release content in 2020 Netflix had new releases every week. This indicates its superior ability to quickly adapt to market conditions and customer demand.
Netflix revolutionised the industry in 2013 when it debuted House of Cards, which went on to become the first online-only program to be nominated for, let alone win, an Emmy award. Since then, the company has received more than 480 nominations and 204 awards.
It has leveraged its global scale to double down on content spend, producing more original content and building a larger and better content library, which ultimately helps it acquire more users and great acclaim. Netflix’s ability to achieve quality at scale is unrivalled by traditional industry players especially as consumers increasingly shift towards streaming services offering diversity, flexibility and personalisation.
One exception is Disney, renowned for its quality content in both film and TV. The company’s assets continue to generate healthy returns for shareholders through its leading studios including Walt Disney Pictures, Searchlight Pictures, 21st Century Fox, Blue Sky, Marvel, Lucasfilm and Pixar Studios. These studios and their significant production budgets also attract their own ecosystem of the world’s best talent and this is reflected in the company’s consistent dominance in global award ceremonies.
The 2021 Golden Globes for Best Motion Picture – Drama and Best Director were awarded to Nomadland, released by Searchlight Pictures in theatres and streamed on Hulu, both Disney assets. Searchlight Pictures alone has amassed 26 Golden Globe Awards, 47 BAFTA awards and 40 Academy Awards, winning the Best Picture Oscar five times in the last 12 years, an enviable track record for a single studio.
These assets offer attractive incentives for viewers to subscribe.
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The Education of a Value Investor by Guy Spier
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