6. The Substance

The Substance is a gripping psychological drama following Demi Moore’s character as she navigates a moral labyrinth after a life-altering event. Moore’s raw, shape-shifting performance as Elisabeth Sparkle practically crackles with awards-season buzz. But while the film has already snagged the Golden Globe for Best Actress in a Musical or Comedy, and Critics’ Choice Award for Best Actress and Best Screenplay, it still faces stiff competition in the crowded Oscar race.

In one particularly haunting scene, Sparkle paces a dim motel room, her reflection trembling in a cracked mirror as she wrestles with a choice that could unravel her life. Even with gripping scenes like these, there’s no guarantee of a Best Picture victory when you’re up against an Academy that could pivot anywhere from sweeping historical epics to tender, indie crowd-pleasers. Still, there’s a chance this movie can leverage its critical praise, gleaming trophies, and its acclaimed, unflinchingly raw central performance to turn that Oscar dream into a golden reality.