Best of the Week: A deep-dive into how the Oscars are run

The opening scene of "Conclave" thrusts viewers into a frenzied rush with Ralph Fiennes navigating public transportation to reach a crucial destination—the Vatican. Here, in the papal chambers, the world's most significant religious leader lies on his deathbed. Directed by Edward Berger, this Oscar-nominated film sees Fiennes portraying the Dean of the College of Cardinals, charged with the ancient duty of overseeing the next papal election.

Edward Berger’s masterful direction in "Conclave" is showcased in its Oscar-winning screenplay, which grips the audience without pause. I was drawn to watch "Conclave" during its run for the Best Picture Oscar, intrigued not just by its artistic merits but by its timely relevance, as it coincided with Pope Francis' real-life hospitalization.

Also read: Oscars 2025, ‘Anora’ and the fabulous Baker boy

The Oscars prove to be a vital bridge to global cinema, particularly in a diverse movie-loving nation like India, which celebrates a plethora of film industries, each with unique narratives. These awards not only highlight outstanding cinematic achievements but also help a variety of films gain international recognition and popularity, enriching the global film landscape. 

So why am I writing about the Oscars, almost a week after the 97th Academy Awards in LA? Just gearing you up for next year’s show, of course!

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And the vote goes to… 

The Oscar voting process is a meticulous and segmented procedure managed by the Academy of Motion Picture Arts and Sciences, which comprises over 9,000 members divided into 17 branches, each representing a specific discipline like acting, directing, or cinematography. Each branch nominates candidates for its category—actors nominate actors, directors nominate directors, and so on. For the Best Picture category, however, all voting members are eligible to submit nominations. The nominations are determined by members listing their choices in order of preference on their ballots.

Once the nominations are set, the final voting begins, involving all Academy members again. In most categories, the winner is decided by a simple majority. However, the Best Picture category employs a preferential voting system to ensure the winning film enjoys broad support across the membership rather than merely achieving a plurality. Here, voters rank the nominated films in order of preference. If a movie receives more than 50% of the first-place votes outright, it wins. If no film achieves this majority on the initial count, the film with the fewest first-place votes is eliminated, and those votes are redistributed to the second preferences indicated on those ballots. This process repeats until one film achieves a majority, ensuring it is the most broadly acceptable choice among the contenders.

Also read: Oscar nominees: Should biopics leave politics blowing in the wind?

What happens in Hollywood…

To be eligible for an Oscar nomination, films must meet specific criteria set by the Academy of Motion Picture Arts and Sciences. They must have been shown in a commercial motion picture theatre in Los Angeles County (Hollywood, essentially) for at least seven consecutive days during the calendar year. Additionally, feature films must have a run time of more than 40 minutes and be exhibited on 35mm or 70mm film or in a qualifying digital format. To ensure accessibility, films must also provide closed captioning. This rigorous qualification process ensures that only films that meet a high standard of both presentation and accessibility are considered, maintaining the prestige and integrity of the Oscars.

Even though my favourite, "Conclave", lost to the well-deserving "Anora" at the Oscars in the Best Picture category, the impact of the film has lingered, inspiring me to explore and write about the significance and influence of the Oscars.

On to the best of Mint’s journalism from this week.

Market Questions Answered

India's stock markets are struggling, marking five months of losses amid global challenges and investor unease. With the economy's slow recovery, questions arise about the stability of growth, investor return, and the nature of the market downturn. Mint answers those questions—about whether the current situation is a temporary dip or a prolonged bear market.

IT’s Big Problem

Uncertainty about future inflation and potential trade wars caused by new US tariffs on Chinese and Mexican goods has led major banks to pause substantial tech projects. This situation casts doubt on the growth prospects for India's $283 billion IT industry, as highlighted by JM Financial and Kotak Institutional Equities after discussions with company executives. Read more. 

Odisha’s Best Export?

What is the secret behind the success of Odisha's workforce on a national scale? Since its inception in 2016, the 'Skilled in Odisha' vocational training initiative has not only boosted enrolments and placements in ITIs but also significantly improved wage prospects and gender inclusivity. Read more. 

Piramal’s Exit

Piramal Enterprises is gearing up to sell its stakes in Shriram Group's insurance ventures, valued at ₹4,000-5,000 crore, to focus more sharply on its core lending business. This move comes after a decade of diversified investments. How will this strategic shift impact Piramal's position in the financial sector?  Read on to know more.

Kolkata’s Latest Problem

The bustling markets of central Kolkata, including Marquis Street, Free School Street, Sudder Street, Rafi Ahmed Kidwai Road, and Kyd Street—collectively known as 'Mini Bangladesh'—are experiencing a sharp decline in vibrancy. This downturn is driven by reduced tourism from Bangladesh amid political unrest in the neighbouring country. In December, Bangladeshis accounted for only 6% of all foreign tourists in India, down from 28% in June 2024, after India decided to limit visas to them. Despite Dhaka being the sick one, why is it that Kolkata traders are the ones sneezing? Read more.

Hope for Cancer Patients?

As cancer treatment costs soar in India, the country's leading drug manufacturers, including Sun Pharma, Cipla, Glenmark, Cadila, and Biocon, have begun producing essential cancer medications domestically. This initiative comes under a government Production Linked Incentive (PLI) scheme aimed at reducing dependence on imported drugs and making treatment more affordable. How will this shift impact the accessibility and affordability of cancer care in India, where the disease burden is expected to increase significantly by 2025? Read on! 

JioStar Layoffs

JioStar, a joint venture between Reliance Industries Ltd's Viacom18 and The Walt Disney Co.'s India unit, is undergoing significant layoffs, affecting over 1,100 employees, as it seeks to eliminate redundant positions post-merger. The job cuts span various corporate departments including distribution, finance, commercial, and legal. The layoffs, which began a month ago, are set to continue through June, impacting employees from entry-level to assistant vice-president. Read more.

Child Safety Concerns

Meta Platforms Inc. and Alphabet Inc.'s Google are voicing concerns about India's new regulations that restrict their ability to monitor internet browsing by minors under 18, arguing that this will hinder the effectiveness of safety filters. According to executives familiar with the matter, India's Digital Personal Data Protection Act allows for using a user's age for identification but does not permit the comprehensive data monitoring needed to implement protective measures effectively. This could impact efforts to prevent inappropriate interactions between adults and underage users online. Read more.

PetChem Trade Talks

As Indian and US negotiators meet in Washington to discuss a potential trade deal, petrochemical trade has become a focal point. The US is seeking tariff concessions on its petrochemical exports to India, aiming to export more raw materials rather than finished goods, encouraging local processing in India. India, on the other hand, currently imports both crude oil and finished petrochemical products like polypropylene and styrene-butadiene rubber from the US, which serve as raw materials for various Indian industries. Read more. 

Where Women Lead

In India's corporate landscape, small firms are at the forefront of diversifying their boardrooms, particularly in terms of gender representation. A recent Mint analysis, based on data from primeinfobase.com, highlights a growing trend where small companies in the bottom quartile of market capitalization have the highest proportion of women executive directors, reaching nearly 15%. This contrasts sharply with the country's largest firms, where only about 8% of such roles are occupied by women. Read more. 

That’s all for this week!

If you have any feedback, want to talk about food, or have anything else to say about our journalism, write to me at siddharth.sharma1@htdigital.in or reply to this mail. You can also write to feedback@livemint.com.

Best,

Siddharth Sharma

Community Editor