A24's Doc Gamble: Best Picture or Bust?

A24's foray into the well-trodden territory of Elizabeth Holmes with a new documentary is sparking considerable Oscar speculation. The film, which premiered at Telluride in 2026, has generated significant excitement, with whispers that it could be the first documentary to contend for Best Picture. This ambition, however, faces considerable challenges within the Academy's voting structure.

Documentaries typically struggle to gain nominations outside the Best Documentary Feature category. This is largely because many Academy branches, particularly the influential Actors branch, are more familiar with and tend to favor scripted productions. Even director and writer branches may be hesitant to advocate for documentary peers, as these filmmakers often belong to a separate Documentary Branch.

Despite these systemic challenges, documentaries have occasionally found success in other Oscar categories. Best Original Song has seen documentary nominees, and some films have been submitted for Best International Feature, with "Collective" and "Flee" serving as notable examples that also received Best Documentary nominations. "Fahrenheit 9/11" notably bypassed the documentary category to pursue a Best Picture campaign, though it ultimately did not secure a nomination.

The success of "You Can See Everything" hinges on its ability to resonate across diverse Academy branches. While initial reception has been electric, history suggests a tough road ahead. A strong indicator of its potential Oscar legs would be its inclusion on the Best Documentary Feature shortlist come early December, suggesting its impact may prove undeniable.