‘CODA’ a $10 mn film acquired by Tim Cook for $25 mn, creates history at Oscars; Apple lunges ahead of Netflix

The 94th Academy Awards was just not about Steven Spielberg vs Jane Campion or the scuffle that ensued between stalwarts Will Smith and Chris Rock. In 2022, the Academy Awards set up the stage for a battle between two titans, Apple and Netflix. ‘Coda’ bagging the Oscars for Best Picture was a big win for Apple as it had paid close to USD 25 million for the rights to release it on Apple TV+.

The Academy Awards this year saw Apple taking on the mantle beating Netflix to take home Hollywood’s most coveted prize. Both Apple and Netflix were nominated in the category for their respective titles ‘CODA’ and ‘The Power of the Dog’.

Apple’s takeover at the Oscars is likely to provide the much-needed impetus for its streaming service. This also comes as a vantage point for the entertainment industry, as several corporations have pumped billions into launching services to take on streamers that have been dominating the film and television industry.


Netflix received as many as 27 Oscar nominations for 10 titles including ‘The Power of the Dog’, ‘Don’t Look Up’, ‘The Mitchells vs. The Machines’, and ‘Tick, Tick... Boom!’. This was also Netflix's chance to grab the Best Picture honour, which it missed when it made it to the race with 'Roma' in 2018.

While Netflix has had several nominees in the past for the Academy’s most desired prize, ‘Coda’ was Apple’s first nominee for the best picture honour. The Cupertino-based tech giant’s acquisition of ‘CODA’ at Sundance Film Festival 2021 for the record USD 25 million was a new record among streaming services. The movie was released on Apple TV+ in August.

Helmed by Sian Heder, ‘Coda’ is the first motion picture to cast deaf actors in leading roles. The film bagged the Best Picture, Best Supporting Actor, Best Adapted Screenplay at the Academy Awards.
“What an incredible journey it has been since the moment we first saw ‘CODA’ to today’s historic recognition from the Academy,” said Jamie Erlicht, Apple’s head of Worldwide Video. “It has been a true joy to witness the positive impact on humanity that this story and its performances have had worldwide. We send our warmest congratulations to Siân; Troy; the cast; the creative team; producers Patrick, Philippe, and Fabrice; and everyone who helped bring inclusion and accessibility to the forefront through this remarkable film.”