On Sunday night, at about 11:13 PM Eastern time, Roma’s name was called as a nominee for the Academy Award for Best Picture. For just a few seconds more, the producer and distributor of the film, Netflix, would not know whether it had won the coveted Best Picture Oscar or not.

At that moment, the air filled with portent, as if a red fog had been piped into the theater: Netflix’s 22-year journey from an auspicious bet on DVD technology to far and away the preeminent entertainment service on the planet was encapsulated in that pregnant pause.

Although Roma’s loss signals to many that Netflix’s domination of the entertainment industry has been forestalled, for now, the fact is that the company has been topic A through Z among both consumers and business for years.

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