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Demi Moore, ‘Emilia Pérez,’ and more: What the Golden Globes mean for the Oscars race

Sunday’s Golden Globe Awards jolted the Oscars race at the right time. The next seven days are the most important of the season so far, with the four most prominent industry guilds — the Screen Actors Guild, Directors Guild, Writers Guild, and Producers Guild — set to announce their nominations for the best of 2024 before the Critics Choice Awards add another data point to the ledger en route to the Oscar nominations on Jan. 17.

The 2025 Golden Globes winners included Emila Pérez (four awards, including Best Comedy/Musical) and The Brutalist (three awards, including Best Drama), and acting winners Demi Moore, Fernanda Torres, Sebastian Stan, Adrien Brody, Zoe Saldaña, and Kieran Culkin. (For a full list of Globes winners and losers, head here.)

Below are three big Globes headlines that will impact the Oscars race.

Demi Moore might be the Best Actress frontrunner.

Heading into the night, Anora star Mikey Madison was heavily favored to win at the Golden Globes and then carry through all the way to the Oscars stage in March. But then Moore pulled off the upset win and gave an acceptance speech that stood out as the night’s highlight. 

“I’ve been doing this a long time, over 45 years, and this is the first time I’ve ever won anything as an actor,” The Substance star said. “I’m just so humbled and so grateful. Thirty years ago, a producer told me I was a ‘popcorn actress.’ And at that time, I made that mean that this wasn’t something I was allowed to have. I could do movies that were successful, and that made a lot of money but that I couldn’t be acknowledged. And I bought in, and I believed that. That corroded me over time to the point where I thought a few years ago maybe this was it. Maybe I was complete, and I had done what I was supposed to do. And as I was at a low point, I had this magically bold, courageous, out-of-the-box, absolutely bonkers script come across my desk, and the universe told me that you’re not done.”

Awards season is about more than just speeches; but a great speech can always help fuel someone’s narrative. Moore’s gracious words and how she contextualized her career in such a decisive fashion felt significant. It also helps that the passion for The Substance is real. The body horror satire overperformed with BAFTA voters, appearing on 11 of the group’s longlists, tied with The Brutalist and A Complete Unknown for third place behind Emilia Perez (15 mentions) and Conclave (14 mentions). The longlists tally comes after The Substance landed several guild award nominations, including costumes and editing. The only place The Substance has arguably stumbled is with the Oscars shortlists, where the film missed potential mentions for Best Sound and Best Visual Effects. Moore’s next test will come on Wednesday when the Screen Actors Guild Award nominations are announced (she’s widely expected to land a nomination). Then she’s up against Madison again at the Critics Choice Awards on Sunday (where, at least before the Golden Globes, Madison felt like the obvious winner). But assuming she keeps on this trajectory — and assuming The Substance performs well at the Oscars next week — can anything stop Moore from fulfilling the comeback narrative she laid out in her speech on Sunday?

Fernanda Torres takes another step toward an Oscar nomination.

While Moore feels ascendant, the same can’t be written for Angelina Jolie. The Oscar-winning star had long been considered a safe bet for a Best Actress nomination this year for Maria. But on Friday, Jolie was shockingly snubbed by the BAFTA longlists. Then, on Sunday, she lost Best Drama Actress to Fernanda Torres for I’m Still Here. The Brazilian star has been a critical favorite and has a loud online fanbase supporting her work in the Walter Salles film. But Torres still seemed like a longshot to land among the Oscars Best Actress nominees, especially after she also missed the BAFTA longlists. However, after her win on Sunday night, she might be a safer pick than either Jolie or fellow Oscar winner Nicole Kidman. Torres also has a potential leg-up on her fellow critical favorite, Marianne Jean-Baptiste (who just completed the acting triple crown by winning prizes from the New York Film Critics Circle, Los Angeles Film Critics Association, and National Society of Film Critics). I’m Still Here is a Sony Pictures Classics release, and the studio has a knack for getting acting Oscar nominations, including recent dark horses like Antonio Banderas, Penélope Cruz, and Bill Nighy

Emilia Pérez vs. The Brutalist could be this year’s Green Book vs. Roma or CODA vs. The Power of the Dog.

Best Picture frontrunner Anora got blanked by the Golden Globes on Sunday night, a tough beat to overcome for a movie that has eyes on the top prize. Meanwhile, Emilia Pérez still sits fifth in the Best Picture odds behind even Wicked. Regardless of the predictions, the final battle on Oscars night might be between Emilia Perez and The Brutalist. The two Globes winners would make for an intriguing and oft-repeated twosome: the emotional crowdpleaser versus the austere epic. Think Shakespeare in Love versus Saving Private Ryan. Crash versus Brokeback Mountain. The King’s Speech versus The Social Network. Argo versus Lincoln. Green Book versus Roma. CODA versus The Power of the Dog. In the past, Netflix has been on the losing end of that eternal Best Picture struggle, with Roma and The Power of the Dog coming up just short of the big prize. But this year, the studio has the industry crowdpleaser with Emilia Perez. And if the Golden Globes results are any indication — where Emilia Pérez led all films with nominations and wins — Netflix might finally have its first-ever Best Picture trophy.

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