Warner Bros. is managing an unusual Oscar season by equally promoting two best picture frontrunners from its slate: Paul Thomas Anderson's action epic 'One Battle After Another' and Ryan Coogler's vampire drama 'Sinners.' The studio must avoid any appearance of favoritism amid high stakes and record nominations. This balancing act comes as Warner Bros. faces an uncertain future with a pending sale to Netflix.
Warner Bros. finds itself in a rare position during the 2026 Oscar season, supporting two major best picture contenders under one roof. Paul Thomas Anderson's 'One Battle After Another' emerged as an early favorite, securing 35 major critics' and guild awards. These include sweeps from the National Board of Review, Los Angeles Film Critics Association, New York Film Critics Circle, and National Society of Film Critics—a distinction previously held only by films like 'Schindler's List' (1993), 'L.A. Confidential' (1997), and 'The Social Network' (2010).
The landscape shifted dramatically on Oscar nomination morning when Ryan Coogler's 'Sinners' received 16 nominations, setting a new Academy Awards record. This development turned what seemed like an inevitable win for Anderson's film into a close contest, potentially marking the first best picture victory for a Black director.
To maintain neutrality, Warner Bros. has allocated nearly identical budgets of $14 million to $16 million for each campaign. Publicity efforts, including screenings, ads, and executive statements, are carefully balanced. An awards strategist told Variety, "You can’t pick a horse. The entire studio has to walk an incredibly fine line."
Both filmmakers' teams report no favoritism, noting mutual admiration between Anderson and Coogler. Historically, similar situations include Searchlight Pictures' 2017 push for 'Three Billboards Outside Ebbing, Missouri' and 'The Shape of Water,' and Paramount's 1974 campaigns for 'The Godfather Part II' and 'Chinatown.' Unlike past eras, today's multimillion-dollar efforts face intense scrutiny from analysts and bloggers.
Warner Bros. is tying its all-time record for most nominations in a year, boosting internal morale amid the Netflix acquisition talks. One executive described it as "throwing yourself the world’s best going-away party." Publicists emphasize even subtle cues, like applause at events, to prevent perceptions of bias.
