• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
Netflix

Netflix Spent as Much as $60 Million to Win ‘Roma’ a Best Picture Oscar—and Still Lost

By
Brian Raftery
Brian Raftery
and
Brian Raftery
Brian Raftery
Down Arrow Button Icon
By
Brian Raftery
Brian Raftery
and
Brian Raftery
Brian Raftery
Down Arrow Button Icon
February 25, 2019, 5:55 PM ET

Sunday night’s Academy Awards broadcast wasn’t short on surprises: For starters, the show managed to clock in at under three and a half hours long, a fact that no doubt helped increase its ratings. And there were plenty of twists when it came to the awards themselves, including The Favourite’s Olivia Colman winning Best Actress over Glenn Close, who nearly all the awards-pundits had agreed was a sure thing.

But the night’s biggest shocker may have been the sixties-set drama Green Book taking the Best Picture trophy over Netflix’s black-and-white family-saga Roma. Not only had Roma nabbed statues in the Cinematography, Director, and Foreign Language Film categories earlier in the night, it had widely been considered the front-runner for weeks. That confidence was aided in no small part by the streaming giant itself, which had mounted a lavish multi-million-dollar marketing campaign to sway voters.

On Monday, it became clear just how lavish that effort had been. While previous reports had pegged Netflix’s Roma spending at around $25 million, a new Vulture story claimed the company might actually have shelled out as much as $60 million in its campaign. That’s about four times the cost of Roma‘s production budget, and a remarkably high figure for an awards campaign: In 1998 and 1999, Miramax’s Harvey Weinstein was rumored to have spent as much as $15 million to bring Shakespeare in Love a Best Picture award, a sum that was considered outrageous at the times.

But Netflix has deeper pockets than the major Hollywood studios—as was evident to anyone living in Academy-centric Los Angeles, where signs and billboards for Roma had all but taken over the city in recent months (the company bought its own billboard company last year). And the company’s efforts to win a coveted Best Picture, an achievement that’s eluded all of the major streamers so far, might have actually turned off some voters, according to Vulture. One anonymous Academy member told the publication that some of his or her peers had refused to put Roma too high on the awards’ preferential-vote ballot. The reason? They didn’t want a win for Netflix, a company that’s forced the industry to re-think how movies are distributed and marketed. The company’s success has irked some exhibitors—who want the audiences to go to the theater, not stay on the couch—and worried studio execs, who can now be out-spent and out-maneuvered by a company that, just ten years ago, was sending out DVDs in red envelopes.

The Academy of Motion Picture Arts and Sciences, the body that oversees the Oscars, doesn’t release voting data for the awards, meaning it’s impossible to know just how close Roma came to besting Green Book. Still, despite Netflix not taking home the top prize, don’t expect its awards-spending to die down any time soon. During the Oscars telecast, the streaming company debuted a brief teaser of its next big prestige project: The Irishman, a decades-spanning crime story directed by Martin Scorsese, and starring Robert De Niro, Al Pacino, and Joe Pesci—all past Oscar winners. The movie premieres this fall; expect its awards campaign to begin before the credits can even roll.

 

About the Authors
By Brian Raftery
See full bioRight Arrow Button Icon
By Brian Raftery
See full bioRight Arrow Button Icon

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Leadership
  • Success
  • Tech
  • Asia
  • Europe
  • Environment
  • Fortune Crypto
  • Health
  • Retail
  • Lifestyle
  • Politics
  • Newsletters
  • Magazine
  • Features
  • Commentary
  • Mpw
  • CEO Initiative
  • Conferences
  • Personal Finance
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in

abhas
CommentaryCloud
I’m Cloudera’s chief strategy officer and here’s why your $1 billion AI budget just became obsolete
By Abhas RickyFebruary 10, 2026
7 minutes ago
chapman
CommentaryGender Issues
Sam Altman told me AI should be ‘an equalizing force in society.’ That’s why I’m working on the $1.6 trillion AI gender gap
By Valerie ChapmanFebruary 10, 2026
7 minutes ago
obama
Environmentclimate change
Trump to stick it to Obama by reversing 2009 finding that climate change is real
By Matthew Daly, Seung Min Kim and The Associated PressFebruary 10, 2026
13 minutes ago
colorado
Environmentclimate change
The drought in the western U.S. is about a lot more than ski season
By Dorany Pineda, Seth Borenstein and The Associated PressFebruary 10, 2026
17 minutes ago
Personal FinanceLoans
Personal loan APRs on Feb. 10, 2026
By Glen Luke FlanaganFebruary 10, 2026
23 minutes ago
SuccessCareers
A decade after his NFL kneeling controversy, Colin Kaepernick has a message for Gen Z: Don’t let the fear of backlash silence you
By Orianna Rosa RoyleFebruary 10, 2026
24 minutes ago

Most Popular

placeholder alt text
C-Suite
Meet Jody Allen, the billionaire owner of the Seattle Seahawks, who plans to sell the team and donate the proceeds to charity
By Jake AngeloFebruary 9, 2026
19 hours ago
placeholder alt text
AI
As billionaires bail, Mark Zuckerberg doubles down on California with $50 million donation
By Sydney LakeFebruary 9, 2026
22 hours ago
placeholder alt text
Economy
China might be beginning to back away from U.S. debt as investors get nervous about overexposure to American assets
By Eleanor PringleFebruary 9, 2026
1 day ago
placeholder alt text
Economy
Elon Musk warns the U.S. is '1,000% going to go bankrupt' unless AI and robotics save the economy from crushing debt
By Jason MaFebruary 7, 2026
3 days ago
placeholder alt text
Commentary
America marks its 250th birthday with a fading dream—the first time that younger generations will make less than their parents
By Mark Robert Rank and The ConversationFebruary 8, 2026
2 days ago
placeholder alt text
Personal Finance
Current price of silver as of Monday, February 9, 2026
By Joseph HostetlerFebruary 9, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.