This year's Emmy nominations were announced on Tuesday —with 2021 emerging as a standout for streaming platforms.

HBO (T), along with its fledging streaming service HBO Max, led the way with 130 nominations, followed by Netflix (NFLX) with 129 nods. Two-year old Disney+ (DIS) came in third with 71 nominations, whereas traditional cable network NBC (CMCSA) finished fourth with a mere 46 nominations. Apple TV+ (AAPL) rounded out the top five with 37 total nods — largely thanks to breakout comedy series "Ted Lasso."

Also, most of the top-nominated shows came from streaming. Netflix's "The Crown," along with Disney's "The Mandalorian," each nabbed 24 nominations, followed by Disney's "WandaVision" with 23 nods. It was the first time in Emmys history that the top three most-nominated shows came from streaming platforms.

Meanwhile, nods for traditional cable or broadcast networks experienced all-time lows. In the comedy category, ABC's "Black-ish" was the only non-streamer to be nominated.

"Streaming platforms have made a real commitment to funneling huge resources into the creative side of their business, both in front of and behind the camera," Comscore Senior Media Analyst Paul Dergarabedian told Yahoo Finance.

"Resources and creative freedom equals some great content, so that's why you're seeing this streaming dominance right now," Dergarabedian continued.

Although traditional cable shows from "Dexter" to "The Sopranos" wrote the "playbook" on quality original content, streaming meets people where they are — and caters to society's binge watching obsession, the analyst added. Still, that doesn't mean cable networks won't catch up in the future.

"It ebbs and flows," Dergarabedian noted, suggesting that cable networks may now up their spend in order to secure top creators that can guarantee award-winning content.

But it will take some time, especially as many streaming giants have solidified themselves as safe havens for creators.

Most recently, Steven Spielberg inked a multi-year deal with Netflix, the latest marquee Hollywood name to capitalize on the at-home streaming boom.

"This is no small thing for the industry to have somebody like Spielberg — this high profile, this renowned — to strike a deal with a streamer," Dergarabedian told Yahoo Finance in a previous interview. The move adds a level of prestige and acceptance when it comes to Netflix's place in the media world.

"Anything that Spielberg has his mark on is going to get noticed," he emphasized.

Netflix, which boasts over 208 million global subscribers, consistently bets big on content and creators, recently spending a whopping $450 million to secure the next two "Knives Out" sequels. Prior to that announcement, the streamer revealed it would be dropping an original film every week in 2021.

Other streaming competitors have made big moves to compete. After news of WarnerMedia's (T) bombshell merger with Discovery (DISCA), Amazon (AMZN) announced it would be purchasing Hollywood studio MGM Holdings for $8.45 billion, a sign of how the hot industry is likely to see more big deals.

Meanwhile, Disney+ (DIS) has exclusively secured Peter Jackson's high-profile Beatles documentary. The upcoming series was originally set to debut in theaters, but will air in three separate episodes over Thanksgiving weekend.

Eyes on the 'prize'

Despite the plethora of Emmy nods, streaming giants have struggled to convert nominations into actual wins. Netflix, for example, has yet to win the top award in the drama, comedy or best limited series categories — despite pouring billions of dollars into content every year.

The last streaming series to win best drama was Hulu's "The Handmaid's Tale" — four years ago.

"The win is the prize," Dergarabedian said, although "in some ways, just getting nominated can be a prize. The perception of quality is one of the most important motivating factors for consumers."

He added: "That's why all of these platforms covet these nominations, but before that happens they have to chase the creators who can create the content that will get the nominations, get the awards and build on that brand equity and recognition."

Overall, the future of television hangs in the balance in the aftermath of COVID-19.

Dergarabedian said he expects "more answers than questions" in 2022, as the big and small screens vie for dominance in the post-pandemic landscape.

At the end of the day, "people are looking for great content. If your platform happens to have that — whatever it may be — the consumer will subscribe," he concluded.

Alexandra is a Producer & Entertainment Correspondent at Yahoo Finance. Follow her on Twitter @alliecanal8193

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