Announced on January 23^rd, the ten feature films nominated for Best Picture at the 2025 Oscars reflect the evolving strategies of global producers and the wider movie industry. In line with the increasingly globalised industry, for example, half of the nominees are from markets outside of the USA. Four of these originate from Western Europe, with three prominently featuring languages besides English.

In terms of genres, half of the films are prestige Dramas, which traditionally perform well in Awards season, with a mix of both historical fiction (The Brutalist and I’m Still Here) and Musicals (Emilia Perez and Wicked) rounding out the category. However, this year also marks a recent first, with Mubi’s* body-horror film The Substance becoming the first Horror title to be nominated for Best Picture this century, highlighting the persistent appeal and artistic merit of the genre.

Notably, streaming services’ Original titles (rather than externally-backed acquired Exclusives), were conspicuously absent from the nominees this year. Following a bumper year for SVoD in 2022 (2 of the 10 Best Picture Nominees were SVoD Originals, with Apple Exclusive CODA taking the top prize), the presence of streaming giants has notably declined in subsequent years. Both 2023 (All Quiet On The Western Front) and 2024 (Maestro) saw only a single streamer Original title among nominees. 2025 therefore marks the first year since 2017 in which no streamer Originals are among  the Best Picture nominees (with Netflix’s Emelia Perez acquired by the platform for global distribution outside its home release territory of France).

This reflects a recent shift by global streamers in their strategies. In 2024, both Netflix and Amazon Prime (the two largest SVoD backers of new feature films) saw a decline in the number of original films released compared to the prior year. More broadly, the volume of films released as SVoD premieres is decreasing compared to theatrical, indicating a more positive outlook for cinema distribution post-pandemic.

The priority for streaming services in mature markets is now subscriber retention and limiting churn among existing users, rather than necessarily looking primarily to attract new users with eye-catching film content. These new strategies are supported through building a robust catalogue of acquired movie content to keep subscribers entertained (creating a licensing opportunity for legacy studios), and increasingly through investment in sports rights to ensure weekly engagement with the service.

For movie fans in the USA, at time of writing, 8 of the 10 Best Picture nominees are still available in cinemas, with the exceptions being Dune: Part 2 (which concluded its theatrical release in May 2024) and Netflix Exclusive Emelia Perez. For consumers looking to watch all 10 of the titles before the awards ceremony in March, Wicked, Anora, Dune: Part 2, Conclave and The Substance are also available through digital retail outlets such as Amazon Prime Video, with the remaining films theatrical exclusives