Proactive Investors - Universal Pictures, which is owned by Comcast Corporation (NASDAQ:CMCSA, ETR:CTP2), was the big winner at the Academy Awards on Sunday, picking up seven Oscars, including best picture, for Oppenheimer.
Christopher Nolan’s historical drama about the creation of the atomic bomb also won Best Director, Best Actor for Cillian Murphy and Best Supporting Actor for Robert Downey Jr.
However, Comcast shares remained muted in pre-market trading on Monday, with Wall Street having already accounted for the US$957 million in box office revenues from when it was released last summer.
The next financial tailwinds sourced from Oppenheimer’s success will likely be from whichever company secures streaming rights for the biopic.
Currently, Universal’s US-only service Peacock is streaming Oppenheimer, but should a lucky streamer like Netflix get the rights to release it globally, it could provide a boost in users and revenues.
Universal’s independent film studio Focus Features also picked up an award with its comedy-drama The Holdovers after Da’Vine Joy Randolph won Best Supporting Actress for her role as Mary Lamb.
Walt Disney (NYSE:DIS) Co's (NYSE:DIS, ETR:WDP) Searchlight division picked up five Oscars, with the feature film Poor Things taking home four including Best Actress for Emma Stone’s performance.
It was a quieter year for the streaming giants, with Netflix Inc (NASDAQ:NFLX, ETR:NFC) taking home a single award for Wes Anderson’s short film The Wonderful Story of Henry Sugar.
Apple Inc (NASDAQ:AAPL, ETR:APC) was less fortunate, failing to take home any awards despite it releasing best picture nominee Killers of the Flower Moon.