Three years after its announcement, Apple TV+ became the first streaming service in history to win an Oscar. The award was presented in the Best Picture nomination for the film CODA: Child of Deaf Parents.
The film beat Netflix Western Power of the Dog, which was also a favorite in that category, and, directed by Jane Campion, won an Oscar for Best Director.
Apple acquired the screening rights to CODA for $25 million following the film’s premiere at the 2021 Sundance Film Festival. Produced by Vendome Pictures and Pathé, the film has been streaming on Apple TV+ since August 2021. “If Apple wins the coveted Best Picture award with CODA, it will attract more talent.” – said Wedbush Securities analyst Daniel Ives before the start of the awards ceremony.
Overall, films from streaming services underperformed last year, winning four Oscars compared to seven in 2021.