The biggest winner at the Oscars ceremony on Sunday is likely to be the studio with the most uncertain future.Warner Bros., whose movies are up for 30 Academy Awards, is set to be acquired by Paramount in a $111 billion deal months in the making.

Of all Warner’s nominees, Sinners is “poised for Oscar glory,” writes Forbes contributor Tim Lammers. The vampire thriller, directed by Ryan Coogler, was recognized with a record 16 nominations, including all the big ones.

Paul Thomas Anderson’s One Battle After Another, another Warner nominee, goes toe-to-toe with Sinners for Best Picture, Best Director and most of the major acting awards.

Figuring out who will ultimately win is a Hollywood pastime "influenced by the outcome of the guild awards," writes Lammers. Producers, directors, actors and writers guilds have already picked their favorites of this year's awards season. Many of these industry professionals are Academy voters, too.

Actor + Director = Oscar

Voters have spread their love this awards season, portending surprises in the acting categories.

What’s the recipe for an Oscar-worthy performance? Collaboration, according to Forbes contributor Hannah Abraham, who writes that 40% of the lead acting nominees had worked with their directors before.

“These creative partnerships deepen with each project, allowing both artists to take bigger risks because they’ve built a foundation of trust,” Abraham writes.

Oscar Consolation Prize For Netflix

Netflix lost out on its bid for Warner Bros. to Paramount, but the streaming giant is likely to take home its first Oscar.

Kpop Demon Hunters will be a “shoo-in” for Best Animated Feature after winning at the PGA Awards and Annie Awards, Lammers predicts. The animated film’s Grammy-winning, chart-topping hit “Golden” and “I Lied To You” from Sinners compete for Best Original Song, and both will be performed live during the ceremony on ABC.

Guillermo del Toro’s Frankenstein, another Netflix entry, is likely “to take several Oscars in the craft categories,” Lammers writes, such as Best Production Design.

Apple And Disney Take Cash Over Prizes

For studios like Apple and Disney, their box-office success may have to suffice. F1, Avatar: Fire and Ash, and Zootopia 2 may fail to convert ticket sales into lots of statuettes: Among the top grossing films of 2025, these three have earned a combined $4 billion internationally, so far.

The same movie fans who bought tickets to these films could also boost Oscar viewership if they care enough to watch. Conan O'Brien will again host the ceremony, which will be televised on ABC. Last year, O'Brien presided over the most-watched Oscars ceremony in half a decade, garnering an average of 19.69 million viewers.

The ceremony moves to YouTube in 2029, where more than 2 billion viewers globally will be able to stream it for free. “YouTube’s ability to provide free, accessible content can and will usurp free over-the-air broadcasting when the global audience is factored into the equation,” Forbes contributor Sabrina Reed writes. It's an interesting twist moving a television show about movies to a streamer.

Until then, O'Brien will try to wrangle a lineup of nominees that include vampires, demon-hunting K-pop stars, a hapless tennis-table champion and a bunch of radicals on the run while studio executives at Warner Bros. and elsewhere count their statues and plot their futures.

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