With CODA's Best Picture Oscar, Apple TV+ Makes History as First Streaming Service to Win Biggest Academy Award

Apple TV+ made history at the 94th Academy Awards as the first streaming service to win a best picture Oscar for CODA, a heart-warming drama about the daughter of deaf parents who pursues her passion for music.

The streaming service purchased CODA for a record $25 million (roughly Rs. 190.745 crore) following its debut at the 2021 Sundance Film Festival, and it has gathered momentum throughout the awards season, winning top honours from the Producers Guild, Screen Actors Guild, and Writers Guild awards.

Oscars Winners 2022: The Full List, From Best Actor to Best Picture

CODA faced intense competition from Netflix's critically acclaimed western, The Power of the Dog, which collected a dozen nominations. The film's director, Jane Campion, received an Academy Award.

The best picture Oscar signals how far the industry has come since 2017, when the Cannes Film Festival prohibited movies that were not released on the big screen from competing for its most prestigious prize, the Palme d'Or. It was a deliberate snub to streaming services like Netflix.

As the global pandemic forced theatres to close in 2020, the Academy of Motion Picture Arts and Sciences modified its Oscar eligibility rules to temporarily change the requirement that a movie screen for seven days in theatres to qualify. That represented a watershed moment for movies that debut via streaming services in the home.

The best picture Oscar also marks a milestone for Apple TV+, which launched in November 2019 with a handful of original series and no library of movies and TV shows.

Apple TV+ saw a breakthrough in September 2021, when its fish-out-of-water comedy, Ted Lasso, about an American football coach who takes a job with an English soccer club, received the Emmy Award for outstanding comedy series.

With the Oscar wins — CODA won three awards, including Best Supporting Actor and Best Adapted Screenplay, in addition to Best Picture — Apple will now naturally attract more A+ Hollywood talent to its streaming service.

© Thomson Reuters 2022