Netflix’s psychological cowboy drama, The Power of the Dog, political satire Don’t Look Up, as well as the Apple TV Plus musical Coda are all nominated for this year’s Best Picture award, along with seven other films by traditional entertainment conglomerates. The 94th Academy Awards ceremony officially starts at 8 p.m. ET on March 27. (The Logic)
Talking point: If either company wins, it will be the first Best Picture award for a streaming platform—marking a big win for the technology sector. Streaming services account for about half of the nominations for the award category this year. In previous years, Netflix’s share price has seen short-term boosts after the awards ceremony—it soared to new record highs shortly after winning Oscars in other categories in 2018 and 2019. Its shares have plummeted nearly 38 per cent year-to-date.