The Wall Street Journal has published and has been a buzz over Netflix’s gargantuan spending on Oscar Campaigns for its 2019-20 awards titles, including Martin Scorsese’s “The Irishman”, “Noah Baumbach’s”, “Marriage Story”, “Fernando Meirelles”.
“The Two Popes” and more.With Oscar nominations at the 92nd Academy Awards.
Netflix is the most nominated studio of the function. The streaming giant earned nominations for seven films, including animated originals “Kian” and “ I Lost My Body”.
The company reportedly paid $100 million to secure the right for an additional year of friends in 2018 as per reports.
In 2019, Netflix released more originals, 371 series, and movies also, bigger than the entire industry did in 2005. Reportedly, 54.6% over the 240 shows and movies Netflix released in 2018. And The Irishman alone cost $160 million to produce.
But new shows are not the only thing Netflix has been spending a boatload of money on. The streamer also has been spending tons trying to win of titles some awards.
As per The Wall Street Journal, industry insiders estimate Netflix is spending well over $100 Million, with the majority of those funds funneled into campaigns for Martin Scorsese’s.
“The Irishman” and Noah Baumbach’s ‘Marriage Story’. Apart from typical studios, these spend $5 million to $20 million per money on campaigns.
The game-changer Scott Stuber refutes the claim the steamer spent over $100 millions on campaigns, saying the estimate too high and moreover, Netflix’s awards spending has been “very smart” Stuber told The WS Journal, “ I don’t think we are doing anything that everyone else isn’t doing.”
Last Oscar season Netflix was at the center of similar budget spending conversations. The NewYork times reported the streamer mounted a $25 million campaign for “Rama” well above campaign budget was closer to $60 million.
However, Netflix has move nominations than any studio at the 2020 Oscars. And it is not expected to way with the most, Laura Dern is a winner for Marriage Story” but apart from that nothing is a guarantee for the streamer.