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Awards season: The rise of streaming networks

Streaming services are fast becoming firm favorites with top critics as well as the TV audiences.

Last week, the Hollywood Foreign Press Association announced its film and TV nominations for the 2016 Golden Globe awards. And one detail was clear… streaming services dominated the television list.

Netflix led the way, receiving eight Golden Globe nominations in TV for series including "Narcos" and "Orange is the New Black", followed by premium cable networks HBO (seven) and Starz (six), and Amazon Video with five.

Leading broadcasters and basic cable networks like ABC and AMC, who've delivered previous award-winning successes "Modern Family" and "Breaking Bad", however trailed behind, mostly ranging from one to four nominations per network, except FX, which received five.

It's not just the 73rd Golden Globes praising the streaming sites either. In September, both Amazon Video and Netflix won a collection of awards at the Emmys, including the Creative Arts session. In 2015, Amazon picked up two Globes for "Transparent", while Netflix outshone at 2014's Creative Emmys, with seven wins.

Recognition from top award networks highlights two key characteristics from streaming sites, according to experts.

"(First off), Netflix and Amazon are prepared to invest comparable amounts of money to linear TV channels in original...