Apple paid $25 million for the release rights to “CODA.” It was worth every penny.

“CODA’s” Best Picture triumph at the 94th Academy Awards gave a major stamp of legitimacy to Apple and its fledgling original film company, snatching another win over rival Netflix to become the first streaming service to land. the most Oscars. coveted trophy.

Written and directed by Sian Heder, “CODA” charmed academy voters with its serene portrayal of a young woman (Emilia Jones), who must decide whether to help her deaf family’s fishing business or sue. his musical ambitions.

The film prevailed over Netflix’s “The Power of the Dog,” Jane Campion’s take on the western genre that for weeks was considered the favorite ahead of “CODA’s” late push.

“CODA” was Apple’s first nominee for best picture, while Netflix had a string of nominees in its pursuit of the academy’s most coveted honor.

The Cupertino-based tech giant’s acquisition of “CODA” for $25 million during last year’s Sundance Film Festival set a record for the festival. Apple somewhat quietly released the film on Apple TV+ in August.

The big win marks the rapid rise of Tim Cook’s iPhone-making giant as a bonafide player in the film industry, having launched its streaming service in late 2019 to much skepticism in Hollywood. Industry estimates peg Apple’s promotional campaign for “CODA” at over $10 million, which is typical for a strong Best Picture contender.

“CODA” won all three awards it was nominated for. Troy Kotsur won the supporting actor award, making history as the first male deaf actor to win an acting Oscar. Heder won for Adapted Screenplay.

It’s the latest narrow loss for Netflix, which has pushed hard for the Oscars in recent awards seasons. The company has managed to get seven films nominated for best picture in four years by supporting prestigious directors such as David Fincher (“Mank”), Martin Scorsese (“The Irishman”) and Noah Baumbach (“Marriage Story”). The Los Gatos company came close in 2019 with “Roma” by Alfonso Cuarón, which won three statuettes, but not the best picture.

Netflix didn’t go home empty-handed, thanks to Campion getting the director’s honor. Campion is the first woman to be nominated for Best Director more than once.

Netflix came to the ceremony as the most nominated studio, with 27 nominations for films including Adam McKay’s “Don’t Look Up,” Maggie Gyllenhaal’s “The Lost Daughter,” the musical “Tick, Tick. .. Boom!” animated feature “The Mitchells vs. the Machines” and several short films.

For a steam service, winning Hollywood’s highest honor is a symbolic moment in the entertainment industry. Sunday’s result is another sign of Hollywood’s changing attitude toward the tech takeover since Amazon became the first streaming studio to feature a Best Picture nominee with ” Manchester By the Sea” in 2016.

Just three years ago, members of the academy, including Steven Spielberg, led a movement to prevent streaming services such as Netflix, Amazon and Hulu from competing for the Oscars without their projects airing first. halls.

But the film industry has changed. Streamers are now the most active funders of independent films and festival darlings – the kinds of critically acclaimed films the academy likes to celebrate.

The COVID-19 pandemic has accelerated change. With cinemas forced to close, audiences have become accustomed to watching early films on their living room TV screens, rather than at the local multiplex. Convenience won out over the theatrical experience praised by many fans.

Three of the top picture nominees — “The Power of the Dog,” “CODA,” and “Don’t Look Up” — were released by streaming companies. Warner Bros.’ “King Richard” and “Dune” debuted simultaneously on HBO Max and in theaters, as the company temporarily adapted its strategy to the ongoing public health crisis.

The victory did not come cheap. Streaming services have spent huge sums of money to enter the Oscar-winning pantheon. The studios covered the Los Angeles area with billboards, TV spots, social media promotions and full pages in newspapers and trade publications.

Warner Bros. was the most successful studio with seven wins in total, including six for Denis Villeneuve’s adaptation of Frank Herbert’s “Dune” and one for “King Richard”. “Dune” dominated the technical categories. The sci-fi visual stunner, produced by Legendary Pictures, won for Production Design, Sound, Film Editing, Original Score, Cinematography and Visual Effects.

Will Smith has won his long-awaited lead actor award for his performance as patriarch Richard Williams in ‘King Richard.’ He accepted the award shortly after slapping Chris Rock on stage during the telecast after the comedian made a joke about Smith’s wife, Jada Pinkett Smith.

The Walt Disney Co. scored six kudos for films, including the remake of Steven Spielberg’s “West Side Story,” which won supporting actress (Ariana DeBose). The lead actress went to Jessica Chastain for the title role in Disney Searchlight Pictures unit’s “The Eyes of Tammy Faye,” which also won makeup and hair styling. Disney’s Colombian musical phenomenon “Encanto” won the award for animated feature. Other Disney winners were Questlove’s “Summer of Soul” for Documentary Feature and “Cruella” for Costume Design.

Several studios won a single award. MGM’s “No Time to Die” won the original Bond theme song from Billie Eilish and Finneas O’Connell. Focus Features’ “Belfast,” set in turbulent 1960s Northern Ireland, won the original screenplay by Kenneth Branagh. The Japanese film Drive My Car from Sideshow and Janus Films, directed by Ryusuke Hamaguchi, won the international feature Oscar.