Proactive Investors - Movie awards season hit Britain on Sunday evening as actors, directors and movie execs celebrated the 2024 BAFTAs.
Notable winners include Christopher Nolan’s Oppenheimer, which picked up the Best Film, Best Director, Best Actor and Best Supporting Actor along with awards for cinematography, sound and editing.
Also picking up several awards were Poor Things starring Emma Stone, The Holdovers and The Zone of Interest.
However, were any investors left smiling by the results?
Universal Pictures, which is owned by Comcast Corporation (NASDAQ:CMCSA, ETR:CTP2), was the production company behind Oppenheimer and owns Focus Feature, which made The Holdovers.
However, it’s likely the market has already taken into account all the value generated by both films, with screenings of Oppenheimer taking place in mid-2023 and The Holdovers having been released in limited theatres.
Therefore, it’s not much surprise that Comcast is trading flat in the US’s aftermarket, wholly unaffected by Sunday’s win.
The share price has also remained flat for Walt Disney Co (NYSE:NYSE:DIS, ETR:WDP), owner of Searchlight Pictures, the company which made Poor Things.
A24, the independent film studio behind The Zone of Interest, is a slightly more unique player in the industry.
While it’s not possible, for most, to buy into the US$2.5 billion company, it provides an important indicator of where film is heading.
A24 has been at the forefront of film awards for some years and as it grows the number of movies it releases, the threat from other, larger studios appears to be diminishing.
Movie studios look like they are instead focusing on larger, bigger-budget franchises that, while bringing in huge returns, may not be the favourites of critics.
Yet, once again the clear winner for investors appears to be streaming services Netflix Inc (NASDAQ:NFLX, ETR:NFC) and Amazon (NASDAQ:AMZN)'s Prime Video.
Not only have they found a way to raise new cash through their ad-based subscriptions, but when people hear about the winning films and want to check them out, their services are exactly where they’ll go.
Oppenheimer is available in the UK through Comcast-owned subscription services, while Poor Things can be bought on Apple (NASDAQ:AAPL) TV or Amazon Prime starting next week.