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Netflix soars after nabbing the most 2020 Oscar nominations of any studio


This image released by Netflix shows, from left, Robert De Niro, Al Pacino and Ray Romano in a scene from

Netflix stock traded as much as 3.5% Monday after the streaming company received more Oscar nominations than any other studio.
The company’s films nabbed 24 nominations total, with “The Irishman” receiving 10 nods alone.
Todd Phillips’ “Joker” is the most-nominated movie of the year, up for 11 awards at the February 9 ceremony.
Netflix’s nominations arrive after a disappointing night at the Golden Globes on January 5. Despite receiving a record 34 nominations between its movies and original series, the streaming giant took home only two awards.
Watch Netflix trade live here.

Netflix shares jumped as much as 3.5% Monday after the streaming giant nabbed more Oscar nominations than any other studio.

The company’s movies received 24 nominations total, with “The Irishman” taking 10 nods including Best Picture, Director (Martin Scorsese), Actor in a Supporting Role (Joe Pesci and Al Pacino), and Visual Effects. Other Netflix properties with multiple nominations include “Marriage Story,” “The Two Popes,” and “Klaus.”

Todd Phillips’ “Joker” is the most-nominated movie of the year, receiving 11 nominations Monday morning.

Netflix brought in nine more nominations this year than in 2019. The company received 10 nominations for “Roma” alone last year, including its first Best Picture consideration. The film lost the top prize but took home awards for Best Director, Best Cinematography, and Best Foreign Language Film.

The studio’s 2020 Oscar nods follow a disappointing night at this year’s January 5 Golden Globes ceremony. Netflix received a record 34 nominations between its movies and original series, but walked away with just two awards for Laura Dern’s performance in “Marriage Story” and Olivia Coleman’s in “The Crown.”

Netflix’s Oscar nominations also come after early 2019 reports of a campaign helmed by director Steven Spielberg to require streaming companies to keep movies in theaters for at least four weeks in order to receive award nominations.

Netflix responded to Spielberg’s criticism in a March 3 tweet, saying that access to movies and “giving filmmakers more ways to share art” aren’t “mutually exclusive.” The campaign never came to fruition.

The 92nd Academy Awards is scheduled to take place February 9 at the Dolby Theatre in Hollywood, California.

Netflix traded at $339.88 per share as of 11:45 a.m. ET Monday, up approximately 4.6% year-to-date.

The streaming giant has 29 “buy” ratings, 10 “hold” ratings, and seven “sell” ratings from analysts, with a consensus price target of $351.78, according to Bloomberg data.

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Source:: Business Insider

      

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