Paul Thomas Anderson's 'One Battle After Another' Frontrunner for Best Picture

The Oscar race tightens as Anderson's latest film leads the pack with critical acclaim and awards season momentum.

Mar. 15, 2026 at 1:07am

Got story updates? Submit your updates here. ›

As the 98th Academy Awards approach on March 15th, 2026, Paul Thomas Anderson's film 'One Battle After Another' has emerged as the frontrunner for Best Picture. The film, starring Leonardo DiCaprio, Sean Penn, and Benicio del Toro, has garnered widespread critical acclaim and significant awards season momentum, including wins at the Globes, BAFTAs, and Critics Choice Awards. With a budget of $130-$175 million, 'One Battle After Another' is Anderson's most expensive project to date, and a potential career-defining moment for the acclaimed director who has received 14 Oscar nominations but no wins.

Why it matters

The Academy often favors films that address relevant and impactful themes, and 'One Battle After Another' tackles complex issues such as immigration, protest, and revolutionary movements, offering a satirical lens on American society. A win for the film would represent a significant milestone in Paul Thomas Anderson's career, who has yet to secure an Oscar despite his critical acclaim.

The details

The film follows Bob Ferguson (Leonardo DiCaprio), an ex-revolutionary forced back into a combative lifestyle, as his peaceful life is disrupted by the resurgence of a corrupt military officer, Colonel Steven J. Lockjaw (Sean Penn). The story delves into themes of paranoia, political unrest, and societal critique, resonating with current cultural conversations.

  • The 98th Academy Awards will take place on Sunday, March 15, 2026.
  • 'One Battle After Another' was released in September 2025.

The players

Paul Thomas Anderson

An acclaimed American filmmaker who has received 14 Oscar nominations throughout his career, including for films like 'Boogie Nights', 'Magnolia', and 'There Will Be Blood', but has yet to win the top prize.

Leonardo DiCaprio

An American actor who stars as Bob Ferguson, the ex-revolutionary protagonist of 'One Battle After Another'.

Sean Penn

An American actor who plays Colonel Steven J. Lockjaw, the corrupt military officer who disrupts the protagonist's peaceful life.

Benicio del Toro

A Puerto Rican actor who also stars in 'One Battle After Another'.

Ryan Coogler

An American filmmaker whose film 'Sinners' is mounting a significant challenge to 'One Battle After Another' for the Best Picture award.

Got photos? Submit your photos here. ›

What they’re saying

“The tone of 'One Battle After Another' reminds me of Stanley Kubrick's 'Dr. Strangelove'.”

— Steven Spielberg

What’s next

The Academy Awards ceremony on March 15, 2026 will determine if 'One Battle After Another' can capitalize on its momentum and secure the Best Picture award, potentially marking a career-defining moment for Paul Thomas Anderson.

The takeaway

With its critical acclaim, awards season success, and timely exploration of social and political issues, 'One Battle After Another' has emerged as the frontrunner for the Best Picture Oscar, setting the stage for a potential career-defining moment for director Paul Thomas Anderson.