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Netflix Receives Its First Best Picture Oscar Nomination For 'Roma'

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Netflix Receives Its First Best Picture Oscar Nomination For 'Roma'

Streaming video company Netflix, Inc. (NASDAQ: NFLX) could walk away as the Oscar's biggest winner after its critically acclaimed film "Roma" received a Best Picture nomination.

What Happened

Netflix is no stranger to Academy Award nominations, but the film -- which follows the life of a live-in housekeeper to a middle-class family in Mexico -- is the company's first chance at bringing home the top prize. Netflix is up against a strong competitor in "Black Panther," which was the highest grossing film in North America in 2018 with more than $700 million in ticket sales.

The other nominees for best picture include:

  • "A Star is Born"
  • "Bohemian Rhapsody"
  • "Green Book"
  • "The Favourite"
  • "Vice"
  • "BlacKkKlansman"

Why It's Important

Netflix could become the first streaming video company to take home the Best Picture title, although it wasn't the first to receive a nomination. Amazon.com, Inc. (NASDAQ: AMZN)'s "Manchester By The Sea" lost the 2017 Best Picture award to "Moonlight."

Although not directly tied to the Oscar nomination nod, a source close to the matter told CNBC's Julia Boorstin Netflix will be joining Hollywood's lobbying associating, the MPAA. If accurate, it will mark an important next step for Netflix is it signals it is "part of the Hollywood mainstream."

Members of the MPAA consist of only Hollywood studios and Netflix would be the first streaming video company to join, Boorstin said.

Related Links:

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The Legacy Of Stan Lee: Marvel Comics Mastermind, Box Office Gold

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