It was only a matter of time, particularly as the major streaming platforms of Netflix and Amazon have become legitimate, alternative distributors, as well as production houses in their own right. Several films picked up by these services have enjoyed theatrical releases, of course, but now those that weren't so lucky are on an equal playing field. The rule change will benefit niche players, too. Flix Premiere, for example, is a streaming service that specializes in independent and foreign cinema that's been overlooked by other distribution channels.

Eligibility of streaming-only releases will still be decided on a case-by-case basis, but the idea is that any flick will now get the chance to receive one of the industry's highest honors, regardless of how it first came to enchant audiences.