Netflix Inc. NFLX and Walt Disney Co. DIS took home most of the 78th Golden Globe awards on Sunday night, highlighting the dominance of subscription video-on-demand or SVOD platforms during a year that was impacted by the coronavirus pandemic.
What Happened: Combined, the two studios won 15 of the awards presented by the Hollywood Foreign Press Association or HFPA in a show hosted by Tina Fey and Amy Poehler.
See also: How to Buy Netflix Stock
Netflix won 10 Golden Globe awards out of its 42 nominations. The streaming service dominated in television, winning awards for the best television series in the drama category for “The Crown”, and best miniseries or television film for “The Queens Gambit”. “The Crown” won four of its six nominations.
Disney won a total of five awards. “Nomadland” won the award for the best dramatic motion picture, while its director Chloe Zhao became only the second woman to take home the Golden Globe for the best director.
Among other streaming service providers, Amazon.com Inc. AMZN Prime Video won two awards. “Borat Subsequent Moviefilm” won the Golden Globe for the best motion picture – musical or comedy, and Sacha Baron Cohen won the best actor award for his performance in the film.
See Also: Apple Has 'No Excuse' To Be Trailing In SVOD Space, Netflix Co-Founder Says While Praising Disney
Apple Inc.’s AAPL Apple TV+ won its first Golden Globe award, with “Ted Lasso” star Jason Sudeikis winning the award for the best actor in a television series -musical or comedy.
Why It Matters: SVODs, including Netflix and Disney Plus, have emerged as big winners amid the pandemic. The closure of theaters and people being forced to stay at home due to coronavirus-induced lockdowns resulted in huge demand for online streaming services. Both Netflix and Disney Plus now boast of having millions of subscribers globally.
Price Movement: Netflix closed 1.4% lower on Friday at $538.85, while Disney closed 1% lower at $189.04. On the same day, Amazon shares closed 1.2% higher at $3,092.93 and Apple shares closed 0.2% higher at $121.26.
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