Netflix has been spending hundreds of millions of dollars and has seen its Oscar nominations tally rise from 15 in 2019 and eight in 2018. Reports in The Wall Street Journal suggested The Irishman cost between $US173 million and $US200 million to make.
Unlike the traditional movie model, Netflix doesn’t make money from the box office, where consumers turn up to cinemas, instead betting it can capture more subscribers for its streaming business.
Disney, which completed the $US71.3 billion acquisition of 21st Century Fox in 2019, reeled in 23 nominations across its portfolio of studios for films such as Jojo Rabbit, Ford v Ferrari, Star Wars: The Rise of Skywalker and Toy Story 4.
Australian Margot Robbie received a nomination for Best Supporting Actress for her role in Bombshell, a film about sexual harassment and the fall of Fox News boss Roger Ailes.
Sony Pictures received 20 nominations for a series of movies, including Quentin Tarantino’s Once Upon a Time … in Hollywood, which is up for 10 awards, Little Women and Pain and Glory.
However, it was Warner Bros’ Joker, starring Joaquin Phoenix, which received the most nominations for a single film, with 11, including Best Picture, Best Director and Best Actor.