On the heels of a massive Oscar avalanche for its original Roma, Netflix has taken another step to being a more official movie studio by joining the Motion Picture Association of America (MPAA).

Netflix has now joined Disney, Paramount, Sony, Fox, Universal, and Warner Bros. in becoming a dues paying member of the motion picture and television industries' main organization. This move also paves the way for other streaming powerhouses like Amazon to join.

Netflix Chief Content Officer Ted Sarandos said, “Joining the Motion Picture Association further exemplifies our commitment to ensuring the vibrancy of these creative industries and the many talented people who work in them all over the world. We look forward to supporting the association team and their important efforts."

MPAA Chairman and CEO Charles Rivkin added, "All of our members are committed to pushing the film and television industry forward, in both how we tell stories and how we reach audiences. Adding Netflix will allow us to even more effectively advocate for the global community of creative storytellers, and I look forward to seeing what we can all achieve together."

Meanwhile, Netflix is also looking to spend about $3 billion more than last year on original content. This is feeding what CEO Reed Hastings calls a "virtuous cycle" and will likely be more needed with the ever growing competition in streaming as a sector.

It remains to be seen whether this new $15 billion figure on original content will justify the streamer’s recent price hike. Here's to hoping.