Did Netflix win more than just awards at the Emmys?
Netflix is hell-bent on breaking the traditional model through which we consume audiovisual media, ever since it transformed its DVD rental service into a streaming one in 2007.
It began producing original content in 2012, and has ramped up its output significantly. Vox reports that they are eyeing 700 original TV series by the end of 2018, with upwards of $8 billion in production expenditure.
What could this streaming giant attempt to dominate next?
Apparently, awards shows.
Netflix clashes head-on with HBO for top position
“When Netflix earned its first Emmy nominations in 2013, it went into the award show as a dark horse. The fact that the company ended up winning three awards for “House of Cards” that year was groundbreaking, as it was the first time that an online exclusive won television’s biggest prize,” Statista notes.
Ever since, Netflix has become a staple of the Emmys, bringing long-running contenders like HBO serious competition. In fact, Netflix topped HBO’s nominations this year, at 112 and 108 respectively, breaking HBO’s 17-year streak of taking that honor, Statista states.
(Graph by Statista)
In the end, however, the two companies tied with equal wins: 23.
(Graph by Statista)
But in the end, an Emmy is just a trophy. What value could it have to Netflix as a business besides the prestige and exposure?
Winning more than just an award
Lo and behold, one day after the awards show, Netflix investors woke up to a pleasant sight: a jump of 4.9% in stock value, according to Variety.
Amazon, which had some horses in the race as well, saw a 2.5% rise by mid-morning that same day, Yahoo! Finance reported.
Despite the hotly debated topic regarding the true worth of winning an Emmy award, it seems that Netflix and Amazon have got more to show for their wins than a handful of shiny statues.
The company told investors in January that it plans to increase marketing spending by more than 50% in 2018, from $1.3 billion last year to $2 billion this year, Vox reports. With the recent surge in share value, the company could continue to expand its budgets and operations with confidence.