Oscars 2025: How ‘Anora’ Triumphed and Demi Moore’s Heartbreaking Loss

Why did Demi Moore’s Oscars loss to Mikey Madison feel so heartbreaking for fans and critics alike?

The 97th Academy Awards will be remembered as one of the most unpredictable and dramatic ceremonies in recent history.

From a wildfire-ravaged Los Angeles to a scandal that derailed a top contender, the road to the Oscars was anything but smooth.

Yet, when the dust settled, it was Anora, a $6 million indie film about a Brighton Beach sex worker, that emerged as the night’s biggest winner, taking home five Oscars, including Best Picture and Best Actress for breakout star Mikey Madison.

Meanwhile, industry veteran Demi Moore, despite a career-defining performance in The Substance, was left empty-handed. Here’s how it all unfolded.

The Rise of ‘Anora’: From Cannes to Oscar Glory

Anora’s journey to Oscar success began at the 2024 Cannes Film Festival, where it won the prestigious Palme d’Or under the jury presidency of Greta Gerwig.

While the Palme doesn’t always translate to Oscar gold, Anora followed in the footsteps of Parasite, using its Cannes win as a springboard for a meticulously planned awards campaign. Neon, the film’s distributor, re-released the movie at fall festivals like Telluride and Toronto, generating buzz and critical acclaim.

With a 93% Rotten Tomatoes score and a global box office haul of $41 million, Anora became a force to be reckoned with.

The film’s momentum peaked during the final weeks of Oscar voting. After winning the Critics Choice Award for Best Picture and sweeping the Producers and Directors Guild Awards, Anora solidified its status as the frontrunner.

Despite a late scare when Conclave won the BAFTA for Best Film, the indie darling had already captured the hearts of Academy voters.

Demi Moore’s Heartbreaking Oscar Loss

Demi Moore, a Hollywood icon with a career spanning over four decades, seemed poised for her first Oscar win.

Her transformative performance in The Substance, a body horror film about aging and vanity, earned her a Golden Globe, a Critics Choice Award, and a SAG Award. Many saw her as the favorite, especially given the narrative of a veteran actress finally receiving her due.

However, the Academy had other plans. Mikey Madison, the 25-year-old star of Anora, pulled off a stunning upset, winning Best Actress.

While Madison’s performance was undeniably captivating, Moore’s loss felt particularly poignant. As one observer noted, it mirrored the themes of her film, where her character is pushed aside for a younger alternative.

Moore’s restrained reaction—a single, unenthusiastic “nice”—spoke volumes about her disappointment.

A New Era for the Oscars

The 2025 Oscars underscored the Academy’s evolving tastes. Since the #OscarsSoWhite movement, the voting body has become more diverse, both in terms of race and geography.

This shift has led to a greater appreciation for unconventional, art-house films like Anora, which might have been overlooked in previous years.

Sean Baker, the visionary behind Anora, became only the second person in history to win four Oscars for the same film, cementing his status as a filmmaker’s filmmaker.

Meanwhile, Mikey Madison’s win signaled the arrival of a bold new talent.

As the curtain fell on another Oscar season, one thing was clear: the Academy’s embrace of fresh voices and daring storytelling is here to stay.

For Demi Moore, the loss may sting, but her legacy remains untarnished. And for Mikey Madison, this is just the beginning.

You might also want to read: Oscars 2025: Full List of Nominees and Winners