Oscar Predictions: Clear Front-Runners With Plenty of Room for Chaos

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Variety Awards Circuit section is the home for all awards news and related content throughout the year, featuring the following: the official predictions for the upcoming OscarsEmmys, Grammys and Tony Awards ceremonies, curated by Variety chief awards editor Clayton Davis. The prediction pages reflect the current standings in the race and do not reflect personal preferences for any individual contender. As other formal (and informal) polls suggest, competitions are fluid and subject to change based on buzz and events. Predictions are updated every Thursday.

FRANKENSTEIN, Jacob Elordi as The Monster, 2025. ph: Ken Woroner / © Netflix / courtesy Everett Collection ©Netflix/Courtesy Everett Collection

Oscars Commentary (Updated: Jan. 5, 2026): Happy New Year!

We’re back, and it’s already hot on the awards circuit. As the phase one period for Oscar nominations enters its final, volatile stretch, a few unexpected titles are beginning to press against what once looked like a locked best picture lineup.

Richard Linklater’s “Blue Moon” from Sony Pictures Classics continues to build serious word of mouth and is quietly building a deep bench of admirers behind the scenes. To the point that a surprise best picture nomination no longer feels far-fetched. The film’s quiet momentum — the kind that grows through admiration rather than spectacle — is exactly how late-breaking contenders have slipped into the lineup in the past.

Joseph Kosinski’s “F1,” fresh off two major wins at the Critics Choice Awards, is also testing the edges of the race. There is almost always room for what might be called a “normal people” movie — accessible, star-driven and emotionally legible — in the best picture field. Think “The Blind Side” or “Top Gun: Maverick.” The Apple studios high-octane racing drama starring Brad Pitt fits that mold, but its viability likely hinges on securing a nomination from the Producers Guild of America, which announces Friday.

How many international feature films will be in best picture remains another open question, particularly among Neon’s contenders. Joachim Trier’s Norwegian drama “Sentimental Value” feels solidly positioned, but whether the Academy embraces more than one non-English-language film is still unclear. Kleber Mendonça Filho’s Brazilian thriller and Critics Choice winner “The Secret Agent,” alongside Jafar Panahi’s “It Was Just an Accident,” are both in play, though space feels very limited.

Elsewhere, Guillermo del Toro’s “Frankenstein” is gathering momentum across categories. Jacob Elordi’s surprise Critics Choice win for supporting actor as the Creature has helped reposition the film as more than a technical showcase, giving it renewed credibility in the above-the-line conversations.

Over the weekend, the Palm Springs International Film Awards gala delivered its annual blend of star power. Next on the awards docket are SAG noms on Wednesday, Golden Globes Awards arriving Sunday night and Oscar nomination voting opening Monday morning.

At the Critics Choice Awards, Paul Thomas Anderson’s “One Battle After Another” swept best picture, director and adapted screenplay. The acting winners included Timothee Chalamet (“Marty Supreme”), Jessie Buckley (“Hamnet”), Elordi and Amy Madigan (“Weapons”). Whether or not they can all translate remains to be seen.

Still, the race is far from unsettled. Ryan Coogler’s “Sinners,” which co-led all films with four wins at CCA, could be a late-breaking spoiler, if the coalition remains intact.

This week’s updated predictions are below.

Top 5 projected Oscar nomination leaders (films):

Top 5 projected Oscar nomination leaders (studios):

*** = PREDICTED WINNER
(All predicted nominees listed below are in alphabetical order)

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