The 98th Academy Awards beyond the Trophies

date

March 16, 2026

I. The Warner Bros. Coronation

The Numbers Tell the Story

Warner Bros. emerged as the undisputed victor of the evening, accumulating 11 Oscars across its two flagship productions . "One Battle After Another" took home six awards including Best Picture, while "Sinners" secured four . This dual triumph represents a career peak for a studio that, as The Guardian noted, spent the year "greenlighting dangerously, at least at this risk-averse time" .

The timing carries irony: this victory lap comes as Warner Bros. prepares to fall under the ownership of Paramount-Skydance, casting uncertainty over its future commitment to auteur-driven filmmaking .

II. The Host with the Most: Conan O'Brien's Second Act

Returning for his second consecutive year as host, Conan O'Brien delivered a performance that critics and audiences alike deemed superior to his 2025 debut. The Guardian called him "looser, sillier, more confident, deftly threading the needle between politically aware and good-natured" .

The Cold Open

O'Brien's pre-taped opening segment featured him in full makeup as Aunt Gladys, Amy Madigan's villainous character from "Weapons," crashing scenes from Best Picture nominees while pursued by killer children. The sequence culminated with a stuntman being chased live into the Dolby Theatre, where O'Brien emerged in a tuxedo, "composed as ever" .

The Monologue: Balancing Jabs and Reflection

O'Brien's monologue targeted several high-profile figures while maintaining the evening's tonal balance. His sharpest line addressed the Timothée Chalamet controversy—the actor's February remarks dismissing ballet and opera as irrelevant.

"Security is very tight tonight. There's concerns about attacks from the ballet and opera communities. They're just mad you left out jazz."

The camera cut to Chalamet, who smiled appreciatively .

Netflix co-CEO Ted Sarandos became another target. O'Brien-as-Sarandos quipped, observing theatergoers: "Why are they all together enjoying themselves? They should be home alone, where I can monetize it" .

Addressing potential political tension, O'Brien warned: "I should warn you: Tonight could get political. And if that makes you uncomfortable, there's an alternate Oscars being hosted by Kid Rock. It's at the Dave & Buster's down the street" —a nod to the singer's Super Bowl counterprogramming.

But O'Brien also struck a serious chord, acknowledging global turmoil:

"Tonight is an international event. If I can be serious for just a moment, everyone watching right now around the world is all too aware that these are very chaotic, frightening times. It's at moments like these that I believe the Oscars are particularly resonant. Thirty-one countries across six continents are represented this evening. And every film we salute is the product of thousands of people speaking different languages, working hard to make something of beauty. Let us celebrate—not because we think all is well—but because we work and hope for better."

The contrast with former longtime host Jimmy Kimmel was not lost on observers. When Kimmel appeared mid-show to present documentary awards, The Guardian noted it "served only to underscore how much better suited Conan is for this job" .

III. The Winners: History in the Making

Best Picture: "One Battle After Another"

Paul Thomas Anderson's political drama, starring Leonardo DiCaprio and Sean Penn, secured Best Picture after a season-long sweep of precursor awards including the Golden Globe, PGA, DGA, BAFTA, and Critics Choice Award . While "Sinners" had generated late momentum following its SAG ensemble win, pundits who bet on a "vibe shift" were reminded that the ensemble prize is "rarely a surefire predictor of best picture success" .

Best Actor: Michael B. Jordan's Dual Triumph

Michael B. Jordan's win for "Sinners"—his portrayal of twin brothers Lazarus and Samuel in Ryan Coogler's vampire epic—represented a career-defining moment. The performance required Jordan to play "twins well [which] is almost impossible, and he nailed it," as New York Times opinion writer Michelle Cottle put it .

The victory was particularly notable given Timothée Chalamet's aggressive campaign for "Marty Supreme." As The Guardian observed, Chalamet's "all-guns-blazing performance" was overshadowed by overexposure: "The more voters saw and heard from him, the less likely his win became" .

Best Supporting Actor: Sean Penn's Historic Third Win

Sean Penn won his third competitive Oscar for "One Battle After Another," joining the exclusive company of Walter Brennan, Jack Nicholson, and Daniel Day-Lewis. Penn was notably absent, prompting presenter Kieran Culkin to quip: "Sean Penn couldn't be here this evening, or didn't want to, so I'll be accepting the award on his behalf" .

Best Supporting Actress: Amy Madigan's Horror Victory

Amy Madigan's win for "Weapons" as Aunt Gladys—a flame-haired villain who preys on children for black magic rituals—signaled the Academy's evolving relationship with genre fare. Her "brilliantly dotty—and even touching—portrayal" powered "a breathtaking awards season run" . Madigan dedicated her speech to "the people that mean something to you, that you couldn't be there without them" .

Best Actress: Jessie Buckley's Emotional Win

Jessie Buckley won Best Actress for "Hamnet," calling it "the greatest honour" in her acceptance speech .

Cinematography: A Historic First

Autumn Durald Arkapaw's win for "Sinners" marked the first time a woman has won Best Cinematography in Oscar history. She followed Frances McDormand's 2018 lead by asking "all the women in the house to stand up," one of the evening's few explicit nods to representation . Arkapaw is also the first Black winner in the category .

Best Animated Feature: K-Pop's Oscar Debut

"KPop Demon Hunters" won Best Animated Feature, with co-director Maggie Kang dedicating the award: "This is for Korea, and for Koreans everywhere." She acknowledged that "it had taken a long time for animated movies to feature people who look like her" . Co-director Chris Applehans added: "Tell your story, sing in your voice. I promise you the world is waiting" .

The film's song "Golden" also won Best Original Song, marking K-pop's first Oscar victory.

Documentary Feature: "Mr. Nobody Against Putin"

David Borenstein and Pavel Talankin's documentary about Russian opposition took home the trophy in a category that has increasingly become a platform for political storytelling.

The Live Action Short Tie

For the first time since 2012, a tie occurred in the Live Action Short category. Kumail Nanjiani announced that both "The Singers" and "Two People Exchanging Saliva" had won, handling the moment "with aplomb" and ensuring both teams received acceptance time .

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IV. The Politics of the Stage

Politics proved impossible to ignore. Javier Bardem, while presenting, declared "free Palestine" to audible audience reaction . Joachim Trier, accepting Best International Feature for Norway's "Sentimental Value," criticized politicians who lack concern for future generations . Best Picture winner Paul Thomas Anderson denounced "the housekeeping mess we have left the world in" .

These moments signaled, as The Guardian noted, "a new attitude" toward political expression on the Oscars stage after years of relative caution .

V. The Genre Breakthrough: Horror's Long-Awaited Night

For horror fans who have long smarted over snubs—Toni Collette in "Hereditary," Lupita Nyong'o in "Us"—the 98th Oscars represented vindication .

"Sinners" : 4 wins (Actor, Original Screenplay, Cinematography, Original Score)
"Frankenstein" : 3 wins (Production Design, Costume Design, Makeup and Hairstyling)
"Weapons" : 1 win (Supporting Actress)

"Two of this year's major acting wins coming from scary movies" served as "the year that horror fans had been waiting for," with "any snobbery older voters might have once had over rewarding witches, vampires and monsters seemingly slaughtered by the newer, less easily scared Academy" .

VI. The Technology Reckoning

A notable undercurrent of anti-tech skepticism ran through the ceremony. O'Brien opened with a joke about being "the last human host" . Will Arnett, presenting the animation award, delivered a pointed message:

"Tonight, we are celebrating people, not AI, because animation, it's more than a prompt. It's an art form and it needs to be protected."

The line drew "hearty cheers," though whether they translate into industry action remains uncertain .

Netflix's Ted Sarandos became a recurring target, with O'Brien's joke about his "first time in a theater" landing particularly hard given the streamer's acquisition of Ben Affleck's AI-focused company .

VII. The In Memoriam: Emotional Resonance and Criticism

The In Memoriam segment drew widespread praise as one of the most emotionally charged in recent memory.

Billy Crystal led the tribute to Rob Reiner, his friend and collaborator on "When Harry Met Sally." Reiner and his wife Michele were murdered in their home just hours after attending an O'Brien-hosted party days earlier . Crystal's voice broke as he spoke, recalling their decades-long friendship .

Barbra Streisand honored Robert Redford, then sang a few bars of "The Way We Were"—the theme from their 1973 romance. Her voice, "changed with time, seemed to give the familiar song a new kind of touching power" .

Viewers reacted emotionally on social media. One posted: "Well damn, this the saddest In Memoriam we had in a minute." Another wrote: "They FINALLY got the In Memoriam right. This is how you pay tribute" .

However, the segment drew criticism for omissions. Fans noted the absence of Brigitte Bardot, James Van Der Beek, and Robert Carradine. One viewer complained: "The segment runs for 15 minutes and not even a mention of Brigitte" .

VIII. The Audience Verdict: "Most Boring Ever"?

Despite the historic nature of many wins, viewers at home delivered harsh verdicts. On social media, complaints about the ceremony's pacing dominated.

"This is the most boring ceremony I've ever witnessed in 20 years #oscars."

"This Oscars is the most painful, boring thing I've watched maybe ever #oscars."

"Conan O'Brien was a disaster from the moment it started. Most boring … bring back Jimmy Kimmel or Ricky or Chris Rock with Will Smith as co host."

The orchestra's aggressive timing drew particular ire. Winners for "Frankenstein" and "KPop Demon Hunters" were played off mid-speech, prompting tweets like: "Why tf is the music cutting everyone off so early? ! ! !" and "They ain't playing with the music lmaooo cutting off everyone's speech hella fast" .

Not all viewers agreed. One countered: "this oscars is so fun because theres so many movies I would like to win in each category so either way I leave this broadcast happy" .

IX. Musical Moments: From K-Pop to Streisand

The musical performances drew praise for their ambition and cultural resonance.

"Sinners" featured an elaborate recreation of the film's "Pierce The Veil" sequence, with Brittany Howard and Misty Copeland among the performers .

"KPop Demon Hunters" delivered "Golden" with dancers in traditional Korean hanbok, a "deserved victory lap" for the song that made Oscar history .

But the night's most moving musical moment belonged to Barbra Streisand, whose impromptu rendition of "The Way We Were" after honoring Robert Redford stopped the show .

X. The Casting Debut and Industry Evolution

This year marked the debut of the Best Casting category, with Cassandra Kulukundis winning for "One Battle After Another" . Presenters included Paul Mescal ("Hamnet"), Gwyneth Paltrow ("Marty Supreme"), Chase Infiniti ("One Battle After Another"), Wagner Moura ("The Secret Agent"), and Delroy Lindo ("Sinners") .

The new category reflects the Academy's ongoing diversification—both in membership and in what it chooses to honor.

XI. The Death of "Oscarbait"?

Perhaps the most significant long-term trend illuminated by the 98th Oscars is the redefinition of what constitutes an "Oscar movie." As The Guardian observed:

"The diversified Academy with more voters who are female, international and of colour, has changed our concept of what an Oscar movie now is. So in the year after Anora swept the main categories, now we've had One Battle After Another and Sinners win big, two daring, hard-to-define films that do not in any way represent Oscarbait."

Traditional awards bait—"Hamnet" winning just one award, "Train Dreams" winning zero—suggests that the Miramax-era playbook no longer guarantees success . The Academy's newer, younger, more international membership rewards risk-taking over stodgy prestige.

XII. The Numbers Finale

Final Tally by Film :

"One Battle After Another" : 6 wins (Picture, Director, Supporting Actor, Adapted Screenplay, Film Editing, Casting)
"Sinners" : 4 wins (Actor, Original Screenplay, Cinematography, Original Score)
"Frankenstein" : 3 wins (Production Design, Costume Design, Makeup and Hairstyling)
"KPop Demon Hunters" : 2 wins (Animated Feature, Original Song)
"Weapons" : 1 win (Supporting Actress)
"F1" : 1 win (Sound)
"Avatar: Fire and Ash" : 1 win (Visual Effects)
"Mr. Nobody Against Putin" : 1 win (Documentary Feature)
"Sentimental Value" : 1 win (International Feature)

Studio Tally :

Warner Bros.: 11 wins
Netflix: 4 wins
Focus Features: 1 win
Neon: 1 win
Apple: 1 win

Conclusion: A Night of Transitions

The 98th Academy Awards will be remembered as a transitional moment—when horror finally received its due, when a woman won cinematography for the first time, when K-pop claimed Oscar gold, and when the Academy's evolving membership made clear that the old rules no longer apply.

Whether viewers at home found it boring or historic, inside the Dolby Theatre, the industry was busy rewriting its own definition of excellence. Conan O'Brien's closing wish—to be named "Oscars host for life"—may have been delivered as punchline, but for an Academy navigating generational change, continuity in the host chair might be exactly what it needs .

The movies are changing. The Academy is changing. And on March 15, 2026, for better or worse, the whole world watched.

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