Online TV Has a Good Night at the Golden Globes

While traditional media once again dominated the 74th-annual Golden Globe awards held on Sunday night, both Netflix (NASDAQ: NFLX) and Amazon (NASDAQ: AMZN) shows were both well-represented when it came time to hand out hardware.

Claire Foy, who played a young Queen Elizabeth II in the Netflix drama "The Crown", won one of the most prestigious awards of the night, taking home the Golden Globe for outstanding actress in a television drama. "The Crown" won the Golden Globe for best dramatic series as well.

Amazon had a good night too. Billy Bob Thornton won the best actor award in a television drama for his role in Amazon’s "Goliath".

Both online streaming services also were mentioned by host Jimmy Fallon in the opening monologue.

This isn’t the first year Amazon and Netflix have won awards. Amazon won in the comedy category in both 2015 and 2016, while the hit Netflix program "House of Cards" has won numerous awards in the past.

This trend is perhaps only beginning. Both Amazon and Netflix are investing heavily in new content, most of which ends up critically acclaimed.

Netflix has committed to spending $6 billion towards new content in 2017. Many in the industry have remarked at how aggressive Netflix has been when it comes to poaching talent.

Amazon is also investing heavily in new content, committing back in July to double its video content spend and triple the amount it invested in original content. Amazon could end up spending $4 or $5 billion on new video content in 2017.