Beyond the gold: What the 2025 Oscars say about Hollywood’s future.

The 2025 Academy Awards, like so many before them, were an extravagant showcase of film industry excellence, a pageant of talent, recognition, and carefully rehearsed gratitude. Yet, beneath the spectacle, the Oscars remain a cultural barometer, measuring not just who is being celebrated but how the film industry defines success in a rapidly shifting landscape. This year’s ceremony was a mixture of historic milestones, powerful performances, and, inevitably, questions about what the Oscars mean—not just to those on stage, but to the many artists whose work will never find itself gilded with an Academy Award.

One of the most striking aspects of the evening was the sheer breadth of history being made. Paul Tazewell’s win as the first Black man to take home an Oscar for Best Costume Design, Zoe Saldaña’s triumph as the first American of Dominican heritage to receive an acting award, and Latvia’s first-ever win with Flow all pointed towards a slow but undeniable evolution in how the Academy acknowledges global and diverse talent. Similarly, the Palestinian film No Other Land receiving recognition was not just a moment of prestige, but a moment that spoke to the increasing pressure on the Academy to acknowledge storytelling outside of Hollywood’s traditional orbit.

It is easy to see these wins as evidence of progress, and in many ways, they are. But it’s also worth remembering that history-making moments at the Oscars often highlight the years, if not decades, in which certain voices were overlooked. When Hattie McDaniel became the first Black woman to win an Oscar in 1940, it was heralded as a watershed moment. But it would take another half-century before another Black woman, Whoopi Goldberg, won in an acting category. The recognition of Tazewell, Saldaña, and the filmmakers behind No Other Land was undoubtedly deserved, but it also served as a reminder of how long the Academy has resisted fully embracing the wider world of cinema.

Away from the awards themselves, the ceremony attempted to reassert itself as a grand cultural event, one where film meets music and fashion, and where every moment is designed to be as viral as it is prestigious. The high-energy opening performance from Ariana Grande and Cynthia Erivo set a tone of theatrical spectacle, while a tribute to the enduring legacy of James Bond, featuring performances by Lisa from Blackpink, Doja Cat, and Raye, ensured that the Oscars remained as much about entertainment as about recognising cinematic achievement.

Yet, for all the glamour, there is a nagging question that lingers in the air each year: what does this ceremony mean to the many artists whose work is never recognised in this space? While the Oscars celebrate the best of the film industry, they also represent an exclusive club, one that has historically overlooked independent filmmakers, niche genres, and vast swathes of international cinema.

For every film that wins, there are hundreds of others whose impact is just as meaningful but will never make it into an acceptance speech. Consider the thousands of crew members—cinematographers, editors, sound designers, production designers—who shape the industry but rarely, if ever, receive the same level of acknowledgment. Even among actors, there are those whose careers remain entirely outside the Oscars’ realm, despite their influence and contribution to the craft.

This is particularly true when considering the ways in which cinema is now being consumed. The rise of streaming platforms and the decline of the traditional theatrical model have fundamentally changed the way films are made, distributed, and valued. Increasingly, the markers of success are no longer measured in box office returns or awards-season runs but in longevity, cultural impact, and the ability to resonate with audiences beyond a single awards cycle.

Filmmakers who work outside the Oscar framework—whether in independent cinema, experimental film, or even short-form content—often find that their work is just as important, if not more so, than those who win golden statuettes. The reality is that the Academy Awards remain a validation of a certain kind of filmmaking, but not necessarily the only kind that matters.

Even within Hollywood, the perception of the Oscars’ relevance is shifting. Once the undisputed pinnacle of industry achievement, the ceremony now competes for cultural attention in a world where audiences are just as likely to discover their favourite films through social media recommendations as they are through traditional award recognition. Winning an Oscar still carries immense prestige, but it no longer guarantees longevity or even box office success.

Perhaps the most telling aspect of this shift was Conan O’Brien’s debut as host. O’Brien, known for his wry, self-aware humour, used the opportunity to poke fun at the institution itself, acknowledging the Oscars’ long-standing reputation for insularity while still playing into the spectacle of the event. His monologue struck a balance between celebration and self-reflection, a tone that felt fitting for a ceremony that is increasingly aware of its place in an evolving industry.

And then there is the fashion. The Oscars red carpet has become its own cultural moment, where designers, stylists, and celebrities create an aesthetic spectacle that often overshadows the awards themselves. This year’s event was no exception, with actors like Mikey Madison, Demi Moore, and Colman Domingo making headlines for their striking ensembles. In many ways, the Oscars’ fashion component has become just as significant as the awards, reinforcing the idea that the ceremony is as much about the show as it is about the work being honoured.

So where does this leave the Oscars? In many ways, they remain what they have always been: a glamorous, often flawed, celebration of a particular slice of the film industry. They continue to carry immense prestige, and for those who win, they can be career-defining. But as the industry continues to change, the weight of an Oscar is no longer the sole measure of artistic success.

For the countless filmmakers, artists, and actors who will never step onto that stage, the meaning of the Oscars is more abstract. They represent an ideal, a dream, and sometimes, an exclusionary reminder of who is deemed worthy of recognition. But in the end, great filmmaking is not confined to those who win awards. It lives on in the work itself, in the stories that resonate with audiences, and in the impact that lasts far beyond a single ceremony.

The Oscars will continue to evolve, just as cinema itself does. The question is not whether they will remain relevant, but how they will adapt to a world where recognition is no longer bound by a single gold statue.