Last year at this time, the Academy Awards were buzzing with anticipation about Netflix possibly cleaning up at the Oscars. There was a very real possibility that the Netflix-produced Roma would become the first Academy Award Best Picture winner from a streaming company (which didn’t happen – although Roma won three Oscars). But even though Netflix landed 24 Oscar nominees in 2020, the 92^nd Academy Awards are shaping up to be a victory for Old Hollywood studios, not the New Hollywood streaming companies.

Old Hollywood versus New Hollywood

There is a war waging between Old Hollywood and New Hollywood.

Old Hollywood is composed of well-established studios that earn their money largely by making crowd-pleasing movies distributed through traditional movie theaters. New Hollywood consists of streaming companies that finance storytellers who want to create daring, original work that sometimes challenges audiences. And they’ve joined forces with streaming companies for many reasons, such as Old Hollywood not financing their work, and New Hollywood making them lucrative offers. 

New Hollywood has steadily attracted big-name talent consisting of Old Hollywood executives and storytellers. For example, New Hollywood has attracted the likes of:

• Tamara Hunter, formerly with Sony, who became head of casting for Apple.

• Storytellers such as Alfonso Cuarón (who made Roma with Netflix), Martin Scorsese (whose The Irishman was financed by Netflix), Viola Davis, and Forest Whitaker (Davis and Whitaker signed production deals with Amazon Studios in recent years).

As The Wall Street Journal reported in 2019, Netflix alone has been so successful at attracting talent that the company is changing how Old Hollywood studios compensate talent. 

It’s not accurate to say New Hollywood has disrupted Old Hollywood; more like New Hollywood has morphed out of Old Hollywood. And neither Old Hollywood nor New Hollywood has an exclusive lock on talent. All that said, Martin Scorsese’s widely reported diatribe against Marvel movies only hints at the resentment that New Hollywood artists feel about the way they’ve been treated by Old Hollywood studios. Old Hollywood companies, in turn, resent the way streaming businesses have developed movies with a streaming-first mentality, largely bypassing movie theaters and then expecting to have their films treated with the same respect and consideration accorded to films produced the traditional way. 

New Hollywood Gains Ground

New Hollywood is gaining ground when it comes to gaining artistic legitimacy. But this will not be a shining year for New Hollywood productions that have been nominated for major Oscars, most notably Netflix, which leads all studios with 24 Oscar nominations. 

Netflix’s most prominent noms include The Irishman (with 10), Marriage Story (six), and The Two Popes (three). The Irishman and Marriage Story are nominated for Best Picture. But being nominated and winning are not the same. In 2020, Netflix secured several Golden Globes nominations but was largely shut out. And the same thing will likely happen at the Oscars. The film pundits are predicting a poor showing for Netflix, and they’re probably right. Here’s why:

1 Netflix Faces Stiff Competition

Netflix-produced nominees are up against an extraordinary field of films, such as 1917, Once upon a Time . . . in Hollywood, and Parasite. Old Hollywood studios showered the world with strong, critically acclaimed movies that also happen to be the types of movies that Oscar loves. Sony Pictures’s Once upon a Time  . . . in Hollywood is not only a career highwater mark for Quentin Tarantino, it’s also a movie about Hollywood – and Hollywood loves movies about itself. Universal/Amblin Partners’s 1917 is not only a career achievement for director Sam Mendes and cinematographer Roger Deakins, it’s also the kind of sweeping, emotional drama that wins Oscars.

By most accounts, 1917 is the front runner, which has gained momentum following major wins at the BAFTA Awards and Golden Globes. If the Academy of Motion Picture Arts and Sciences is going to reward a more daring, independent movie, look for Bong Joon-ho’s Parasite to get the nod.

Parasite wowed audiences on its release, but its popularity might have peaked too soon. In 2019, Roma showed that a foreign film could get serious consideration for Best Picture. Roma may have paved the way for Parasite.

2 Netflix Did Not Make Movies That Oscar Loves

On the other hand, Netflix’s offerings, while impressive, are not easy for the Academy to fall in love with. For example, The Irishman is long (well over three hours) and bleak (gangsters face the ravages of aging). One wonders how many members of the Academy saw The Irishman all the way through. Marriage Story is also downbeat, telling the tale of a crumbling marriage (as one Academy voter said anonymously, “ . . . it’s getting harder and harder for me to care about entitled people’s marital relationships”). The very attributes that made the films personal works for their directors have likely turned off Academy voters. Although you could argue that 1917 is bleak, the movie’s grand scale and compelling portrayal of an underdog soldier fighting the odds play well with the Academy.

3 Old Hollywood Wants to Put New Hollywood in Its Place

The identifies of the Academy of Motion Picture Arts and Sciences voters is a secret, but they’re widely perceived to represent the Old Hollywood establishment. The Academy has made changes over the past few years in an attempt to be more progressive and diverse, with mixed results. But it’s fair to assume that the Academy still represents an Old Hollywood perspective, which is decidedly anti-Netflix. As Brooks Barnes and Nicole Sperling of The New York Times wrote, “The academy’s old guard has resisted a dogged push by Netflix to join the best picture club, arguing that, since the streaming service does not release its films in a traditional theatrical manner, its offerings should be better considered by Emmy voters. (Helen Mirren, onstage at the most recent National Association of Theater Owners convention, used an expletive to refer to the company.)”

Change Is Coming

Of course, tastes are subjective. (If I could wave a magic wand, Once Upon a Time . . .  in Hollywood would win all the awards for which it is nominated.) But it’s only a matter of time before New Hollywood productions win Best Picture awards regularly. That’s because the Academy voters, whose composition is already changing, will eventually be composed of people who have grown up in New Hollywood. Meanwhile, the power holders of Old Hollywood will eventually pass away. As they do, they’ll take to the grave their animosity toward New Hollywood. As a result, streaming companies will establish a new normal for filmmaking. The question won’t be, “Can Netflix upstage the establishment?” but “Who is going to beat Netflix this year?”