As published on Caderno B+

The Oscars have always been a curious event because every country watches them in a different way. In Brazil, the tendency is to treat the ceremony almost like a cultural World Cup. We win or we lose. We bring home a statuette or return empty-handed. In the United States, where the awards actually originate, the reading is usually less dramatic and far more strategic. And the American perception of the 2026 Oscars helps clarify what really happened that night.

The American press described the ceremony as one of the most open races in recent years. The awards season reached its final stretch without a clear consensus, and the division of prizes confirmed that impression. From the beginning of the night the feeling was clear: the main race was between Sinners and One Battle After Another. And that is exactly what unfolded on stage.

The film directed by Paul Thomas Anderson ended up taking the most prestigious prizes of the night, including Best Picture, Best Director and Best Adapted Screenplay. It also won the new Best Casting category introduced by the Academy this year, along with other important victories. It was a clear way of establishing the project as the institutional winner of the evening.

At the same time, Sinners dominated an impressive set of categories that reinforced the artistic impact of the film. The production won Best Actor for Michael B. Jordan, as well as prizes for Original Score, Original Song, Cinematography and Original Screenplay. In other words, the Academy reached a solution that is quite typical in its history: splitting prestige between two strong films and, in some sense, satisfying different factions within the institution.

There was also a third title that stood out across the awards. Frankenstein, directed by Guillermo del Toro, left the ceremony with several technical prizes related to the film’s visual construction and design, including production design, costume design and makeup. It was not the central winner of the night, but it clearly represented recognition of del Toro’s talent for creating visually extraordinary cinematic worlds.

The ceremony was also marked by moments that immediately entered Oscar lore. The host Conan O’Brien adopted a sharper tone than is usually expected at the ceremony and delivered some of the night’s most talked-about jokes. Among them were a series of comments about Timothée Chalamet, referencing remarks considered arrogant during awards-season interviews. It was one of those moments when the Oscars remind Hollywood that the industry also knows how to laugh at itself — and occasionally put a few stars back in their place.

The ceremony also reserved space for emotional tributes. As always, the In Memoriam segment gathered some of the most silent and reflective moments of the evening, remembering artists who shaped the recent history of cinema. There were also references to influential figures whose work helped define the language of contemporary filmmaking.

Among the curiosities of the night was a rare tie in one of the short-film categories, something that happens only a handful of times in Oscar history and which quickly became one of the most discussed topics on social media.

It was also a historic night. For years the Academy has faced pressure to expand diversity among its honorees, and the 2026 ceremony delivered one of its most symbolic moments in the Best Cinematography category.

The loss for Brazilian cinematographer Adolpho Veloso could have been disappointing, since his work had been widely praised throughout the season. Yet the moment also became historic. For the first time ever, a woman won the Oscar for Best Cinematography: Autumn Durald Arkapaw, for Sinners. It was also an excellent piece of work, and her victory entered the Academy’s record books, making that loss a little easier to accept.

The night also offered two particularly emotional victories tied to long careers in Hollywood. Amy Madigan won Best Supporting Actress in what many observers described as a long-overdue recognition for a performer deeply respected within the industry. The reaction from the audience was one of the warmest of the entire ceremony.

Another memorable moment came with the victory of Sean Penn. Now a three-time Oscar winner, the actor chose not to attend the ceremony, reinforcing his reputation as one of the most intense and unpredictable performers of his generation. His win adds another chapter to a career marked by extraordinary performances and an always complex relationship with the industry itself.

The ceremony was also widely described as uneven, in the classic Oscar sense of the word. There were emotional moments, powerful speeches and performances that worked beautifully, but also segments that felt confusing or unnecessarily long. That mixture of brilliance and awkwardness is part of the tradition. Almost every year the Oscars oscillate between elegant spectacle and chaotic live television.

Another aspect that drew attention in American coverage was the weight of social media. Even before the ceremony began, the event had already accumulated millions of online interactions. The Oscars have definitively become a digital phenomenon. More than a television broadcast, the show unfolds simultaneously across thousands of screens, timelines and viral clips circulating throughout the night.

Some of those viral moments emerged directly from the personalities of the nominees. The host joked about Timothée Chalamet’s recent statements, comments that circulated widely in the press and that many interpreted as an example of how Hollywood humor can subtly discipline oversized egos. Chalamet remains an immensely talented and popular actor, but the season made clear that his relationship with parts of the industry will need some careful rebuilding.

At the other end of the race were names whose stature no longer depends on awards. Leonardo DiCaprio, for example, belongs to a category of actors whose place in Hollywood transcends any single ceremony. His career carries a kind of accumulated prestige that goes far beyond annual trophies.

And it is precisely in this context that Brazil’s participation becomes more interesting.

Brazil ended the 2026 Oscars without statuettes, but the narrative of defeat simply does not reflect what the season represented for Brazilian artists. Being present in the main categories, competing alongside some of the most influential names in contemporary cinema and participating in the global conversation already signals a structural shift.

The case of Wagner Moura is particularly emblematic. Living in Los Angeles for nearly a decade, he has built his international career gradually, accumulating projects, collaborations and recognition within the industry. His nomination for Best Actor is not the endpoint of that journey but a milestone within a process that is still unfolding.

There is a curious paradox in Oscar history. Winning is not always the best outcome for an actor on the rise. Many performers who captured the statuette very early later found themselves trapped by expectations almost impossible to sustain. The popular nominee, on the other hand, often leaves the race with something perhaps even more valuable: long-term prestige and strong professional relationships. Wagner may already be a star in his home country, but in the United States he is still climbing, and he is climbing even without the Oscar.

In that sense, Wagner Moura finished the 2026 awards season in a particularly privileged position. Within Hollywood he is seen as a talented, reliable actor who is deeply respected by his peers. In an industry driven by reputation, that combination is powerful.

That is why many observers interpret the nomination as the beginning of a new phase. If he continues appearing in high-visibility American productions, further nominations may emerge naturally. Oscar history is filled with actors who appeared on the ballot several times before finally winning.

Perhaps the best way to understand what happened to Brazil at the 2026 Oscars is to abandon the sports logic and adopt a broader perspective. International cinema is increasingly integrated into Hollywood, and Brazilian artists are beginning to occupy that space consistently.

In other words, the night may not have brought statuettes home, but it delivered something that often proves even more important in the long run: recognition, visibility and the certainty that Brazil now belongs in the central conversation of the global film industry.