The online entertainment provider Netflix shares is up almost 5% thanks to its sweeping away most of the awards at Emmy’s, the award ceremony for television.
In the star studded award night function, Netflix bagged 23 honors. Netflix and HBO, which were once rivals have entered into a partnership. This helped to dissipate competition from HBO, the network which took home most of the awards in the past 16 years.
This year, “The Crown” took the crown by winning five awards. Other shows that got recognition were “Godless” and “Black Mirror.” The Crown, which is a biographical presentation of Queen Elizabeth II’s reign, was given the award for best drama series along with best actress.
In the cutthroat world of online entertainment, which has been nipping at the heels of the traditional television, big ticket players are seen allocating massive amounts to come up with better content and aggressive pricing strategies in a constant quest to up their customer base. Netflix, for example, has almost doubled its budget for original content to take it to about US$8 bn this year. By the end of the year, it plans to roll out almost 1000 original series.
All such efforts have bode well so far for at the Emmy’s it bagged nominations numbering to 112. This was 4 more than HBO. So far this year, even though Netflix shares prices have fluctuated, it shares are still greater 90%. This is definitely a proof that its efforts have been paying off.