The 2026 Oscars shortlist officially kicks off the race for cinema’s most desirable statuette. But, as every year, it also tells a story behind the scenes. This year, the story is about an industry trying to hold onto its past glory.

And this isn’t happening out of nowhere. Hollywood is in the midst of an identity crisis it can no longer hide. With streaming taking over, distribution models shifting aggressively, and artificial intelligence creeping into creative processes, cinema is juggling artistic ambitions and economic pressures just to stay alive.

It’s no surprise that many of the films on the shortlist revolve around tributes to classics (Hamnet, Frankenstein); music icons (Springsteen, Song Sung Blue) and sports legends (Marty Supreme, F1); while also revisiting its own artistic history (Nouvelle Vague) and featuring characters connected to cinema (Sentimental Value, Jay Kelly).

Kleber Mendonça Filho, included on the shortlist with The Secret Agent, stands out as one of the most direct voices. On his social media, he recently wrote:

“If movie theaters start closing, my films will be shown only in those that remain, and in countries that truly defend the movie theater experience. (…) Streaming is an amazing way to watch films, but it cannot have the power to destroy the culture of movie theaters. Theaters give a film its character and history.”

His words go beyond personal opinion. They echo concerns shared by other leading filmmakers. Bong Joon-ho and Guillermo del Toro, for example, have spoken out against the indiscriminate use of AI, sparking important conversations about authorship, the creative process, and the risk of artistic emptiness.

Even studio campaigns seem aware of this moment. James Cameron got back to race with Avatar, demanding very specific projection-room procedures for his new film, alongside a sharp commercial defending the theater experience as non-negotiable.

Timothée Chalamet (Marty Supreme) has talked about the need to “cry out” just to be heard in a chaotic, crowded industry always fighting for attention. The character’s ambition — and the film itself — reflects that desire to assert oneself and leave a mark amid the noise.

More than just pointing to possible favourites, the 2026 Oscars shortlist paints a picture of what the Academy seems eager to defend this year: not only films, but the very idea of cinema.

Check out the full shortlist here!