On Tuesday, the nominations for the 95th Academy Awards were announced. Several critical darlings received numerous nominations and many of the top nominated movies from the recent Golden Globes awards show also heard their names called again.
Two of the big questions from the nominations centered around the awards success of movies on streaming platforms and big box office movies.
The 95th Academy Awards will air on ABC on March 12.
The anti-war German film is an adaptation of a 1929 novel and was also the subject of the award-winning 1930 film of the same name, which took home the Best Picture that year.
Netflix's “All Quiet on the Western Front” received nine total nominations, ranking as the second most nominated movie behind only the 10 for “Everything Everywhere All at Once.”
Netflix received a total of 15 nominations, which was among the best for streaming companies. Walt Disney Co. (NYSE:DIS) had 22 total nominations, including 12 for titles related to its Disney+ streaming platform.
Last year, “CODA” took home the award for Best Picture, giving streaming platform AppleTV+ from Apple Inc (NASDAQ:AAPL) top honors and making streaming history. Apple received only two nominations for this year’s awards ceremony.
Netflix is looking to repeat the success of streaming companies by winning Best Picture.
Netflix was nominated for Best Picture in 2019, 2020 (2 movies), 2021 (2 movies) and 2022 (2 movies). The company also received nominations for Best Director in each of the last four Academy Awards, Best Actor in each of the last three Academy Awards and Best Actress in each of the last four Academy Awards.
Netflix won Best Director in 2019 for Alfonso Cuaron for “Roma.” Netflix also won Best Supporting Actress in 2020 for Laura Dern in “Marriage Story.”
For this year’s awards, Netflix was shut out of the Director and Actor category and got its other big nomination for Ana de Armas for Best Actress in “Blonde.”
Early betting odds from DraftKings Inc (NASDAQ:DKNG) lists “All Quiet on the Western Front” with the fifth-best odds of the 10 movies nominated. The betting odds for the movie are +3500, significantly behind the -165 and +225 for “Everything Everywhere All At Once” and “The Banshees of Inisherin,” respectively.
The Netflix movie winning would be a big upset, with the two favorites in the category having implied odds of 93% to win the award.
Being nominated for Best Picture for five straight years including multiple nominees in 2021 and 2022 had shown Netflix ranked among the most critically acclaimed movie companies. Winning the Best Picture award could help cement the streamer’s legacy even more.
Box Office Hits Score Best Picture Nominations: Among the nominees for Best Picture this year were “Top Gun: Maverick” and “Avatar: The Way of Water.”
“Top Gun: Maverick” ranked as the top-grossing movie domestically in 2022 with $718.3 million. “Avatar: The Way of Water” ranked fourth domestically at $401.0 million in 2022, a total it continued adding to in 2023.
Box office success doesn’t often translate to Best Picture nominations or wins. The last movie to gross more than $100 million domestically and win Best Picture was “Argo” in 2012, which grossed $136 million.
To find a movie on the same level as the two mentioned movies, you would have to go back to 2003 when “The Lord of the Rings: The Return of the King,” which grossed $377.8 million domestically, won Best Picture.
“Titanic,” which was directed by James Cameron, the man behind the Avatar franchise, won Best Picture in 1997 after grossing $659.4 million domestically.
“Avatar: The Way of Water” was the second of several planned movies and follows the 2009 first movie in the franchise that was also nominated for Best Picture.
If this was the last movie in the franchise, it might have better odds of winning top honors as recognition for the entire body of work, which could have been why “The Return of the King” won.
“Top Gun: Maverick” had the third-best odds from DraftKings and could see the movie being a surprise favorite given its strong box office and praise from critics for the sequel from Paramount Global (NASDAQ:PARA)(NASDAQ:PARAA).
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