Netflix's Staggering Oscar Ad Budget Revealed
Netflix is notorious for keeping its internal workings and measures secret, whether it's the [...]
Netflix is notorious for keeping its internal workings and measures secret, whether it's the viewership numbers on its shows, or the cost it's willing to spend to make them. However, as the industry gears up for the 2020 streaming wars, there's been new reports about all the money that Netflix is investing in staying ahead - and that includes the budget for advertising during some big events. Surprisingly enough, Netflix opted not to air any Super Bowl 2020 commercials, but as a new report reveals, the streaming service may have blown its budget advertising for the 2020 Oscars.
In an article ominously titled "Netflix Spent Big on Oscar-Worthy Films. That May Not Be Enough.", the NYT breaks down how Netflix could walk away from the Academy Awards with few big wins for the 24 nominations it received this year. It's in that report that we learn Netflix apparently spent $70 million (according to competitor estimates) to hype up its Oscar campaign.
The irony is that The Irishman, Martin Scorsese's high-profile gangster flick, could walk away with 0 of the 10 nominations it received, despite the fact that Netflix has pushed hard and spent a lot to make sure The Irishman was a top trending and buzzworthy release. A Marriage Story and Two Popes earned a lot of prestige, but not necessarily enough buzz beyond Laura Dern's supporting performance in A Marriage Story. Documentary's are also a possiblity, with American Factory and The Edge of Democracy both in the running.
However, even with the possibly disappointing results of the night, Netflix chief content officer Ted Sarandos is putting on a brave face, claiming that Netflix losing out on major awards doesn't represent any king of degradation of the company's brand:
"A pushback? Nobody can say that with a straight face," Sarandos said last week at the Academy of Motion Picture Arts and Sciences annual nominee luncheon. "We got 24 nominations, the most of any studio. Our films have been honored across the board."
Undoubtedly there are a lot of cinephiles that don't want to see a company like Netflix come in an effectively try to buy their way to an award - especially after the era of Harvey Weinstein's guerilla-like tactics in pushing Oscar voters to help his films take home the big awards. It seems that Hollywood has lost its appetite for that kind of influence in the awards season process - as longtime Hollywood veteran (and former academy president) Hawk Koch makes very clear:
"Obviously, there is one company that is spending more than the others, but that's not going to affect how I will vote — nor do I think it will affect other members. There is an awful lot of wasteful money being spent that could be used for making movies rather than trying to win an award."
The 2020 Oscars air this Sunday.
