The obvious reason Wicked didn’t win big at the 2025 Oscars

In spite of being nominated in multiple categories, Wicked won just two Academy Awards last night, but there’s an obvious reason for that.

Wicked was one of the most successful movies of 2024, with the musical adaptation grossing a record-breaking $729 million from an estimated budget of $150 million.

The film was also nominated for 10 Academy Awards, including Best Picture, Best Actress (for Cynthia Erivo’s performance as Elphaba Thropp) and Best Supporting Actress (for Ariana Grande’s work as Galinda Upland).

But the movie was victorious in just two categories – Best Costume Design and Best Production Design – which is consistent with Oscar tradition.

Wicked: Part 2 is the reason for Wicked’s losses

Wicked: Part 1 failed in several categories because Wicked: Part 2 is just around the corner, which is when the pair of fantasy films will likely be rewarded.

Academy voters like to honor the end of sagas, particularly as the final stages of a story are usually the most dramatic, to it’s likely that some are waiting for the big finale.

The best example of this is the Lord of the Rings trilogy. First film The Fellowship of the Rings was nominated for 13 Oscars and won four, in the technical categories. Then sequel The Two Towers was up for six and won two, again technical.

But it was a different story for The Return of the King. The third and final film in the saga was nominated for 11 Oscars and won each and every one of them, including Best Picture, and Best Director. Those awards were for the film itself, but also seen as a celebration of Peter Jackson’s achievements across all three movies.

So don’t be surprised to see something similar with the Wicked movies. Part 1 took home those tech awards, but Part 2 – titled Wicked: For Good – could go beyond that, with Erivo and Grande solid bets for wins in the acting categories, and Jon M. Chu a likely nominee, and potential winner, for directing.

Similarly don’t rule out a Return of the King-style Best Picture win if Part 2 sticks the landing, as the Academy always has and always will love an all-conquering crowd-pleaser.

Wicked: For Good hits screens on November 15, 2025, while to see what’s out before then, here’s our 2025 release calendar, as well as the best new movies streaming this month.