David Livingston/Getty Images Entertainment
A lot happened at the Oscars.
Seriously… a lot.
To the point where people are going to look back at 2021’s train wreck of a show and long for those days.
But let’s not dwell (for now) on the moment everyone’s been watching and re-watching and instead focus on the one area that should have been the biggest takeaway.
Apple (NASDAQ:AAPL) proving its slow and steady approach to streaming can win the race.
First as always, some background.
If you’ve read my past columns about Apple you’ll know I like to reference the botched launch of its streaming TV service. And yet somehow compared to this year’s Oscar ceremony that presentation looked like the Met Ball.
I don’t reference that presentation constantly to mock Apple but to point out how far it has come. In just a few years period Apple has done something no other streamer has been able to pull off. It didn’t just produce a Best Picture winner, but it also produced a Best Series winner with Ted Lasso.
In one award-season calendar year, it was the belle of the ball – twice.
Just as Hulu shocked the industry when it beat Netflix (NASDAQ:NFLX) to the podium at the Emmys, Apple has done it again at the Dolby on Oscar night.
It’s a big deal.
I’m not going to get into the “awards mean nothing” conversation because when a publicly-traded company spends millions of dollars on an awards campaign – it means something to those who invest in it. Those companies are spending your money on these things so whether you believe in the cause or not, it should matter to you.
For Apple investors, this matters.
Apple has been raked across the coals for its streaming strategy from “go” and this is validation.
Nobody would have expected Apple to have won an Emmy and an Oscar (let alone the top prize at them) this soon – and yet here we are.
After watching Netflix fail so many times – with Roma, The Irishman, The Trial of The Chicago 7 and now The Power of The Dog – to win the big one, to see Apple do it in its debut attempt is stunning.
It also is interesting in the larger picture.
Coming off 2021, a year where the term “hybrid model” and “screen to stream” were common phrases, it stood to reason a streamer would dominate at the Oscars. And yet the final tally for victories by streaming movies is actually less than 2020.
In total four awards went to “streamers” (and three of those were to Apple’s CODA) versus the nine last year. Yes, you could make a case that Warner Bros.’ wins for King Richard and Dune fell in the streaming space, but those were also movies made to be theatrically screened so it’s a hard comparison.
As has been the case the past years, after the nominations were announced Netflix took its spot as the presumed favorite because its The Power of the Dog had the most of any film. Usually, that’s a good predictor of who will win big on Oscar night, and for a while, it looked like Dog would have its day, but Apple’s CODA proved to be a dark horse sentimental favorite.
The movie, about the dynamics of a deaf family – with a largely deaf cast – resonated with audiences and critics. Led by Marlee Matlin, the first deaf person to win an Oscar, and Troy Kotsur, who just became the second deaf person to win an Oscar, CODA was different than what we usually see in theaters… and different is a specialty of Apple.
The Tim Cook-led company has been preaching an “originals” approach for its streaming service for months. CODA represented that strategy in a number of ways not the least of which was simply by reading the room.
It was a movie that had hopes of winnings awards, but not made for that reason – it was made to represent a community that was not being represented. Its success proved that the rise of streaming can help films of its nature survive and thrive in today’s action-centric box office.
As you can imagine in this “acquire this” economy, many doubted the approach and were adamant Apple needed a big splashy company to add to its streaming portfolio.
It knew better.
Apple TV+ is not designed to be Netflix… it’s not even designed to be Disney+, it’s designed as a value-added proposition to sell more hardware. At $5 a month it’s not priced to be in a position to dominate the field, it’s priced to be a player.
For Apple, its nominations last year and this year, in general, were the actual prizes because it showed it could be late to the game, take a quality vs. quantity approach and still be competitive.
CODA’s win is literally worth its weight in gold. It’s something tangible Apple can point to the next time a critic questions its place in the grand scheme.
Curious about a subscriber count? Look at our Oscar.
Worried it has too few shows? Have you seen our Emmy?
How can you compete in this space? Did we mention we have an Emmy for Best Comedy and an Oscar for Best Picture and we are only two-and-a-half years old?
Apple has always been able to defy the odds, its streaming service will be no different.
And the rest will come.
This week we learned Hollywood’s latest next buzzy thing – Project Artemis, a film about the space race with Jason Bateman directing and Scarlett Johansson and Chris Evans as the leads – also will go to Apple. The estimated $100 million deal follows a reported $200 million deal for Matthew Vaughn’s next film Argylle and an untitled one set in the world of F1 racing with Brad Pitt at the center.
And if that wasn’t enough it’s Martin Scorsese drama Killers of the Flower Moon is presumed to be the next big picture out the chute as well as Antoine Fuqua’s Emancipation – granted that one may be shelved a bit given its lead is Will Smith (aka the reason why many of this year’s big storylines are being overshadowed in the first place.
It’s easy to overlook Apple in the streaming world but to do so would be a mistake. Yes, it took them a while to find their niche, but they seem to be on track now and with an Oscar and Emmy in tow, at minimum, it has earned them the benefit of the doubt.
Be the first to comment