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This year’s Emmy nominations were announced on Tuesday, with 2021 becoming a benchmark for streaming platforms.
HBO (T), with its new streaming service HBO Max, led the way with 130 nominations, followed by Netflix (NFLX) with 129 nods. Two-year-old Disney + (DIS) came third with 71 nominations, while traditional cable network NBC (CMCSA) finished fourth with just 46 nominations. Apple TV + (AAPL) rounded out the top five with a total of 37 nods, in large part thanks to the “Ted Lasso” comedy series.
Plus, most of the top-nominated shows came from streaming. Netflix’s “The Crown” and Disney’s “The Mandalorian” each landed 24 nominations, followed by Disney’s “WandaVision” with 23 nods. It was the first time in Emmy history that the top three nominated shows came from streaming platforms.
Meanwhile, the nods for traditional cable or broadcast networks have seen historic lows. In the comedy category, ABC’s “Black-ish” was the only non-streamer to be nominated.
“Streaming platforms are really committed to channeling huge resources into the creative side of their business, both in front of and behind the camera,” Paul Dergarabedian, senior media analyst at Comscore, told Yahoo Finance.
“Resources and creative freedom equate to great content, which is why you see this dominance of streaming right now,” Dergarabedian continued.
Although traditional cable shows from “Dexter” to “The Sopranos” wrote the “playbook” on quality original content, streaming meets people where they are – and answers society’s obsession with watching frenzy, added the analyst. Still, that doesn’t mean wired networks won’t catch up in the future.
“It comes and goes,” Dergarabedian noted, suggesting that cable networks can now increase their spending to secure the best creators who can guarantee award-winning content.
But it will take time, especially as many streaming giants have solidified themselves as havens for creators.
Most recently, Steven Spielberg signed a multi-year deal with Netflix, the latest big-name Hollywood name to capitalize on the home streaming boom.
“It’s no small feat for the industry to have someone like Spielberg – that high profile, that renowned – to strike a deal with a streamer,” Dergarabedian told Yahoo Finance in a previous interview. This move adds a level of prestige and acceptance when it comes to Netflix’s place in the media world.
“Everything that Spielberg has his mark on is going to stand out,” he said.
Netflix, which has more than 208 million subscribers worldwide, is constantly betting on content and creators, recently spending $ 450 million to secure the next two “Knives Out” sequels. Prior to this announcement, the streamer revealed that he will be releasing an original film every week in 2021.
Other streaming competitors have made great strides to compete. Following the news of WarnerMedia (T) ‘s explosive merger with Discovery (DISCA), Amazon (AMZN) announced it would acquire Hollywood studio MGM Holdings for $ 8.45 billion, a sign that the trendy industry is likely to see more big contracts.
Meanwhile, Disney + (DIS) has exclusively secured Peter Jackson’s high-profile Beatles documentary. The upcoming series was originally slated to debut in theaters, but will air in three separate episodes over Thanksgiving weekend.
Eyes on the “price”
Despite the plethora of Emmy nods, the streaming giants struggled to convert nominations into actual wins. Netflix, for example, has yet to take home top prize in the drama, comedy, or best limited series categories, despite investing billions of dollars in content each year.
The last streaming series to win Best Drama was Hulu’s “The Handmaid’s Tale” four years ago.
“Winning is the price,” Dergarabedian said, although “in some ways just being nominated can be an award. Perception of quality is one of the most important motivators for consumers. . ”
He added, “That’s why all of these platforms covet these nominations, but before that they have to hunt the creators who can create the content that will get the nominations, get the awards and build on that branding and recognition. . ”
Overall, the future of television is at stake in the aftermath of COVID-19.
Dergarabedian said he expects “more answers than questions” in 2022, as big and small screens vie for dominance in the post-pandemic landscape.
At the end of the day, “people are looking for great content. If your platform has it, whatever it is, the consumer will subscribe,” he concluded.
Alexandra is an entertainment producer and correspondent at Yahoo Finance. Follow her on Twitter @ alliecanal8193
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