What To Expect In Tonight's Academy Awards

Bloomberg News Managing Editor for Media & Entertainment Lucas Shaw joins Lisa Mateo to preview tonight's Academy Awards and who may be the big winners. One Battle After Another took home the best picture prize at the Academy Awards on Sunday, delivering a long-awaited win for veteran filmmaker Paul Thomas Anderson.

The Warner Bros. Discovery Inc. film, about a washed-up revolutionary seeking to rescue his daughter from his former nemesis, was the favorite among Oscars forecasters and bookmakers going into Sunday’s awards.

It features memorable character turns by actors including Leonardo DiCaprio, as a pot-smoking anarchist in retirement, and Sean Penn, who plays a white supremacist military officer. Penn won the prize for best supporting actor at the ceremony, which was held at the Dolby Theatre in Los Angeles. Anderson’s prior films include 2007’s There Will Be Blood and 1997’s Boogie Nights. He had been nominated 11 times before by the Academy of Motion Picture Arts & Sciences, but had never won an Oscar. He also picked up trophies for best director and best adapted screenplay for One Battle After Another, which features scenes of soldiers guarding immigrant detention centers.

“I wrote this movie for my kids to say sorry for the housekeeping mess that we left in this world we’re handing off to them,” Anderson said in accepting the screenplay prize. “But also, with the encouragement that they will be the generation that hopefully brings us some common sense and decency.”

The annual ceremony is Hollywood’s big opportunity to celebrate itself in front of a large TV audience, showcasing its best films, top stars and finest movie makers.

Another Warner Bros. film, Sinners, garnered 16 nominations going into Sunday’s ceremony, the most ever in the history of the Oscars. The film, from director Ryan Coogler, is a unique take on the horror genre, featuring musical numbers and a plot involving racism in 1930s Mississippi. Michael B. Jordan won the best actor prize for portraying twin brothers in the film.

Coogler, who first won acclaim for the independent film Fruitvale Station, has directed big budget pictures such as Creed and Black Panther. He took home the trophy for best original screenplay at Sunday’s ceremony. Autumn Durald Arkapaw won the best cinematography award for Sinners, making her the first woman to earn that prize. The picture also won for best score.

Jessie Buckley took home the best actress trophy for portraying William Shakespeare’s wife in the Focus Features film Hamnet.  Netflix Inc.’s KPop Demon Hunters won best animated film. The musical about a female singing group who battle supernatural foes has been the most-watched film ever on the streaming service. Its success prompted the company to later release it in theaters. Golden, from the film, won best original song.

LISTEN: “KPop Demon Hunters” creator Maggie Kang speaks to Bloomberg’s Mishal Husain.

Amy Madigan won best supporting actress for her role as creepy Aunt Gladys in the Warner Bros. horror film Weapons. It’s Madigan’s first Oscar after previously being nominated for 1985’s Twice in a Lifetime.

The show opened with a video segment starring host Conan O’Brien, dressed as Madigan’s character, being chased through scenes from several of the nominated films.

In his opening monologue, O’Brien joked about artificial intelligence. “I’m honored to be the last human host of the Oscars,” he said. And he took a shot at the streaming TV leader. “Netflix CEO Ted Sarandos is here and it’s his first time in a theater,” O’Brien joked.

The “In Memoriam” segment, which honors movie makers lost in the past year, included extended tributes to actor-directors Rob Reiner and Robert Redford.

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