The revenue and pricing structure has also changed. Broadcast and cable channels were ad-supported, while customers bought tickets to see a movie. Streaming services offer a new mix of revenue systems.
Streaming video has accelerated the melding of the TV and movie worlds, and pandemic-induced restrictions have sent feature films directly to home screens. Although the prestige of an Oscar historically outshone an Emmy award, it’s not clear the audience distinction will persist. More, it’s uncertain if the award programs will return to their earlier glory. With fragmented audiences, ratings of the awards telecasts have been dropping precipitously. The bragging rights for producers and performers may soon disappear for such awards – further complicating the economic equation.
Streaming video has accelerated the melding of the TV and movie worlds.
This year’s Oscars emphasized the theatrical/home video convergence. Thanks to the pandemic, most of the 2020-early 2021 Hollywood output intended for theatrical debuts showed up first on home screens. As a result, the streaming companies (which would have released some of their original programs theatrically) wound up as leaders of the pack for Oscar nominations: Netflix snagged 35 nominations, Amazon Studios had its most-ever at 12 nominations and Disney+ and Apple each earned their first nominations.
Some new productions will continue to bend the distinctions between film and TV shows, notably limited series such as “Wandavision” on Disney+. Meanwhile, movie stars have become video headliners. For example, Natalie Portman and Lupita Nyong’o will star in the new Apple TV+ “Lady in the Lake” mini-series — the first major TV project for both Oscar-winning actresses.
And to underscore the Awards blur: when the 73rd Emmy Awards are telecast on September 19, 2021, they will appear on both the CBS-TV broadcast network and on its corporate cousin, the Paramount Plus streaming service.
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