Netflix is leading the charge for Oscars glory with an unprecedented 24 nominations and has a huge budget to help achieve that success on Sunday night, it has been claimed.
has denied reports it is spending over $100 million dollars on Oscar campaigns.
Up to $100million will be splashed on the campaign by the streaming giant, largely toutingr Martin Scorsese’s ‘The Irishman’, Noah Baumbach’s ‘Marriage Story’, and Fernando Meirelle’s ‘The Two Popes’, according to The Wall Street Journal.
However, Netflix has denied the claim, insisting it is not spending an unusually large sum of money, and doesn’t do anything that other studios don’t.
It comes as the studio leads this year’s Oscars with 24 nominations, marking the first time in Academy Award history that the studio with the most nods is a streaming service.
According to a report in the Wall Street Journal, industry experts have estimated Netflix is spending over $100 million on this year’s Oscar campaign, which is a large sum even by Hollywood standards and more than the $5 million to $20 million typically spent by studios.
It comes after it was revealed Netflix is spending a cool $17 billion on content in 2020.
Netflix’s head of original films, Scott Stuber has denied the claims the company is forking out such a high amount for its campaigns.
‘I don’t think we’re doing anything that everyone else isn’t doing,’ he said, adding that Netflix had a larger number of titles to promote than other studios.
The streaming giant is up for 24 nominations at the 92nd Academy Awards, which is set to air on Sunday evening.
This is more than any other media company and includes best picture honors for the films ‘The Irishman’ and ‘Marriage Story.’
‘The Irishman’, produced by Martin Scorsese, is up for a total of six nominations. The movie, which was widely praised by critics, told the story of an ex mafia hitman as he recalled his part in the possible slaying of the President of the International Brotherhood of Teamsters, Jimmy Hoffa, after he disappeared in 1975.
Biographical drama film ‘The Two Popes’ has been handed three, while Christmas comedy-drama film ‘Klaus’ is up for a best animated feature award.