Netflix's Oscars performance was cold: Is the transition of movies to the Internet an opportunity or a challenge in the age of streaming media?

Under the epidemic, the film industry has been hit hard, and all the 2020 Spring Festival schedules have been withdrawn. However, Xu Zheng's "Lost in Russia" was changed from a theatrical release to an online platform, which pleased the audience and offended the theaters, and also led to controversy and discussion about the revolution of the film screening model. In fact, Xu Zheng is not the first to try the topic of "movies to the Internet". Netflix has already started to wade in this "muddy water" and has already offended Hollywood. Today, the 92nd Academy Awards ceremony has just ended, and Netflix, which has always produced large-scale and high-quality films, still hit a snag and almost got nothing.

Netflix's Oscars Received a Cold Receive

At this year's Oscars, "Parasite" won four awards, including Best Picture, Best Director, Best Original Screenplay, and Best International Film. In addition, "1917" also won the Best Cinematography, Best Special Effects, and Best Sound. The Best Actor and Best Actress awards were won by Joaquin Phoenix and Renée Zellweger for "Joker" and "Judy" respectively; and "American Factory", which had previously attracted much attention in China, also won the Best Documentary Feature Award.

However, Netflix, which received 24 Oscar nominations, did not perform well, winning only two awards: Best Supporting Actress and Best Documentary Feature. The favorite "The Irishman" did not win any Oscars this time.

Of course, Hollywood will not be very happy if you offend the cinemas.

Netflix's frequent pre-slowdown at the Oscars may have something to do with Hollywood's long-term "dislike" for it. Earlier, media reported that the CEO of Cineworld, the world's second-largest cinema operator, accused The Irishman of being screened too short in theaters, saying that its producer Netflix prevented the film from becoming a box office hit.

Traditionally, Hollywood studios’ films must be shown in theaters for about 3-4 months before they can be released on video-on-demand or online video service websites or applications. This long-standing distribution model guarantees the maximum profitability of content. Therefore, in order to qualify for the Oscars, Netflix must show it in theaters for at least a short period of time. However, less than a month after the release of "The Irishman", Netflix members can already watch the film on this streaming platform. This is seen by Hollywood studios and theaters as a challenge to the market order, and Disney and Apple have also launched their own streaming products to compete with it.

However, there are also views that the cold reception of "Netflix productions" this year may not have much to do with its broadcasting platform. After all, Netflix's "Roma" won the Best International Film, Best Director and Best Cinematography awards in 2018. Such achievements not only prove that Netflix can create high-quality content like traditional Hollywood film companies, but also help convince independent theater owners to allow future streaming content to be shown in their theaters.

Domestic films moving online usher in new opportunities

From the perspective of the domestic market, the transfer of movies to the Internet may also be facing new opportunities. At present, with the collective withdrawal of cinema movies and the cold reception of the offline entertainment industry, entertainment content platforms dominated by long video websites will also usher in new opportunities. After a large influx of user traffic into the platform, the platform also needs to prepare a more sufficient content library to retain users and innovate ways and methods of providing content. From this point of view, the transfer of cinema movies to the Internet may become a trend.

From Netflix's experience, due to its membership model, the movies produced by Netflix are not measured by box office, but they are unambiguous in production and promotion, and are not inferior to them even when competing on the same stage. In order to provide members with differentiated high-quality content, Netflix has invested heavily in capital, is not sloppy in the cast, and is unconventional in the creation of content, giving creators enough creative space. Under the moat of high-quality content, Netflix has accumulated hundreds of millions of users, and has never been soft on membership prices, and often raises prices.

At present, there is a big difference between online blockbusters and cinema movies in the Chinese market. Cinema movies are more like "blockbuster" movies, which are tailor-made for the big screen. Whether it is the production of the film, including special effects, or the configuration of the actors in the casting, high standards and high requirements are required. This also means that these films need higher box office revenue to balance expenses. The content quality of the current video platforms is still difficult to meet the needs of the audience. Even if it is paid on demand, it is still difficult to compare with Netflix in terms of revenue scale. "Lost in Russia", which was broadcast for free during the Spring Festival, is even more incomparable.

In addition, the relationship between Netflix and cinemas is relatively antagonistic. Netflix, which is at a disadvantage in traditional distribution and cinema links, tries its best to ensure its voice in online movies and spends a lot of money to open up the situation. In contrast, domestic video websites are still in a weak position in film projects. Not only is the volume of online movies difficult to match that of cinemas, but cinema movies also have to try their best to ensure the rights of blockbusters after they are transferred to the Internet. After many cinema blockbusters are released on video platforms, they will also retain a single-point payment window period for a period of time to ensure the film company's income. Therefore, whether the current "guaranteed minimum + paid sharing" model of online movies is applicable to domestic cinema movies remains to be verified.