Apple beats Netflix as the first streamer to nab Best Picture — as its curated content strategy starts to pay off
![Tim Cook intro’ing Apple’s streamer three years ago this week [Noah Berger/AFP via Getty Images]](https://cdn.robinhood.com/static_content/mwphzyq69oso/en-US/assets/files/75X31FWH3IwSBEOihm8GgB_1_GettyImages-1132806310.jpg)
ICYMI... Sunday's Oscars ceremony has been garnering more attention for a shocking moment than for actual awards, but there were a few big milestones — including one for streaming: Apple became the first streamer to win the Best Picture award with its indie family drama, “CODA.” Netflix’s “Power of the Dog” was favored to win with 12 noms, but scored only for Best Director (#woof).
Award-winning > bingeworthy… When Apple TV+ launched in 2019, Netflix already had 160M+ subscribers and hit series like “Stranger Things'' and “The Crown.” To stand out, Apple kept its content library small, focusing on premium shows and movies with A-list actors (like: "The Morning Show" with Jen Aniston). That prestige-forward strategy is racking up awards: before “CODA,” “Ted Lasso” gave Apple bragging rights as the first streamer to win Best Comedy at the Emmys.
- Deep pockets: With its billions in hardware profits, Apple splurged $25M on distribution rights for “CODA,” when the flick cost just $10M to produce.
- Lock box: Apple hasn’t yet broken out its number of streaming subscribers, but estimates put subs around 40M — a fraction of Netflix and Disney+.
Apple’s playing the long game… and despite its late start, it’s beginning to score. While the Flix has spent a decade churning out everything from reality shows to action movies, Apple’s taken a more curated approach so that its content feels as high-quality as its hardware. With Apple’s strategy paying off in golden statues, the halo effect could lure big talent (and eyeballs) that help grow its “services” biz, which now accounts for more than a tenth of revenue.