Apple's 'CODA' becomes first streaming Best Picture Oscar winner, topping Netflix
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Apple (NASDAQ:AAPL) broke a Hollywood barrier as the original drama it made for Apple TV+, CODA, became the first streaming-originated Best Picture winner ever, at the 94th Academy Awards.
That trumped its bigger-membership streaming rival, Netflix (NASDAQ:NFLX), which had led all studios in Oscar nominations for the third straight year - and whose The Power of the Dog was considered a favorite for the top prize.
CODA won three awards in all, taking all of the categories for which it was nominated.
The Power of the Dog, meanwhile, had drawn more nominations than every other film - 12 in all - but largely missed out, winning only one Oscar: Jane Campion, for Best Director.
AT&T (T) is about to send WarnerMedia off on its own, but Warner's Dune scored heavily in the Oscars on its way out AT&T's door, winning six Oscars of its 10 nominations.
Jessica Chastain won Best Actress for The Eyes of Tammy Faye - one of two Oscars that picture won, adding to Disney's (DIS) total of five awards.
Will Smith won Best Actor for King Richard (T), after shocking the audience earlier by going on stage to hit Chris Rock, following a joke the presenter made about Smith's wife Jada Pinkett Smith.
Warner Bros. (T) ended up taking seven Oscars, largely due to Dune.
CODA's wins, along with the Directing Oscar for The Power of the Dog, meant that streaming-initiated films took four Oscars, vs. nine last year.