Netflix’s NFLX Roma won the award for best foreign-language film at this year’s Golden Globes. Moreover, Alfonso Cuaron won the best director award for the movie, which is about a maid in a well-to-do Mexican family.
Further, in the television category, Netflix’s The Kominsky Method won the award for best comedy or musical. Michael Douglas won the trophy for best actor in a comedy or musical for the television series.
Per Bloomberg, the streaming giant won five awards altogether across movies and televisions, leading all studios in the race.
Green Book, Bohemian Rhapsody: Surprise Winners
Universal Pictures’ Green Book, a U.S. segregation-era comedy, won three awards for best screenplay, best supporting actor and best picture - comedy or musical. Notably, Universal Pictures is a subsidiary of Comcast CMCSA.
Further, 20th Century Fox’s Bohemian Rhapsody, the biopic about Queen lead singer Freddie Mercury, won the award for best picture - drama. Rami Malek, portraying the legendary singer, won the trophy for best actor in a motion picture - drama.
However, hot favourite, A Star is Born, starring Lady Gaga and Bradley Cooper, won just one award.
Further, The Assassination of Gianni Versace: American Crime Story won best limited series award. Additionally, FX’s The Americans won best drama award for its final season.
Roma’s Golden Globes Win: A Thumbs up to Netflix’s Strategy
Roma’s Golden Globes triumph reflects the benefit of Netflix’s strategy change to give its original movies more theatrical exposure. Roma, Bird Box and The Ballad of Buster Scruggs were the three original movies that hit the theaters first and were later released on the streaming platform.
Netflix, Inc. Price and Consensus
Netflix, Inc. Price and Consensus | Netflix, Inc. Quote
Notably, Roma was announced the best movie of the year (2018) by the New York Film Critics Circle and won the Golden Lion Award. Alfonso Cuaron also won the best director and best cinematography awards for the year. Roma now leads the Oscar nomination list for best foreign-language film.
Moreover, Bird Box recorded highest viewership for any movie in the seven-day period. Per Netflix, more than 45 million, which is almost one-third of the company’s 137.1 million subscriber base, viewed the Sandra Bullock-starrer in the very first week (Dec 21-27) of its release on the platform.
Netflix’s focus on originals — both movies and TV shows — has been the key catalyst behind the company’s surging subscriber base. The success of Roma and Bird Box surely validates the company’s evolution as a major movie studio.
Moreover, the growing involvement of well-known Hollywood stars definitely makes the movies and shows more attractive. Further, the company’s endeavor to offer content catering to various genres has been a key catalyst in driving user engagement.
Netflix added 6.96 million subscribers, much better than the previously expected 5 million, in the last reported quarter. The company expects to add 9.4 million subscribers, up 13% year over year in the fourth quarter of 2018. This Zacks Rank #3 (Hold) stock is set to report on Jan 17, 2019.
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Expected long-term earnings growth rate for Townsquare Media and Discovery is 12% and 26.8%, respectively.
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