However, one movie that was noticeably absent from the nominations was Cats, which has seen more than its fair share of drama since it was released back in December.
And the movie failed to receive any nominations because its own studio, Universal, quietly abandoned its awards season campaign, removing Cats from its "for your consideration" page entirely.
As if that wasn't bad enough, the critically panned movie was reportedly estimated to lose more than $70 million after it failed to make a dent at the box office.
The cast of the movie has been making light of the criticisms though, with some even jumping on the bandwagon themselves. Enter James Corden and Rebel Wilson, who presented the award for Best Visual Effects at Sunday night's Oscars.
Dressed as their characters from the movie, the pair joked: "As cast members of the motion picture Cats, nobody more than us understand the importance of Good. Visual. Effects."
But visual effects artists aren't taking the criticism lying down. In fact, the Visual Effects Society released a scathing statement on Monday, savagely dragging the Academy, Cats, and the people behind it.
"The producers chose to make visual effects the punchline, and suggested that bad VFX were to blame for the poor performance of the movie Cats," a statement provided to the Hollywood Reporter said. "The best visual effects in the world will not compensate for a story told badly."
On Twitter, the Visual Effects Society added: "Everything starts with a good story."
.@TheAcademy - visual effects practitioners deserve immense respect for the artists & technicians & innovators they are and for their remarkable contributions to filmed entertainment. VFX is not a punchline or a proper scapegoat. Everything starts with a good story. #Oscars2020 https://t.co/JSxXVbDwpa
A VFX artist, who apparently worked on Cats, also tweeted their disappointment at the joke.
Hey guys I haven't watched all of the Oscars but I assume these two were really classy and thanked me for working 80 hour weeks right up until I was laid off and the studio closed, right? https://t.co/dolAwK2xbr
According to their LinkedIn profile, McCrae previously worked for VFX company MPC, which reportedly contributed to the effects on Cats before closing their Vancouver office late last year.
MPC didn't immediately respond when approached by BuzzFeed News for comment.
In response to BuzzFeed News, McCrae elaborated on the tweet, adding that "VFX work is generally underappreciated" and that the Oscars had helped fuel that narrative.
McCrae's viral tweet was met with an outpouring of support, with people calling the joke "tasteless" and "a shameful display".
@YvesTM When I heard that joke, I immediately thought of people in your position, and how tasteless it was. Leave it to Hollywood to only worry about the “poor famous actors”. I’ve had plenty of jobs that went south. Not your fault, and I genuinely enjoyed the movie.
@YvesTM @1followernodad This was a shameful display, the volume of work by talented artists ruined through poor planning and release schedules and then to have the gall to take the piss out you internationally? Sympathies x
Another tweet called the joke "grossly out of line".
@YvesTM @DonaldAShults I could not BELIEVE they threw y'all under the bus. You guys didn't deserve that. They're grossly out of line.
This isn't the first time that Rebel Wilson has poked fun at Cats. At last Sunday's BAFTAs, she cracked a joke about her dress, saying that it was partly black because she had just attended a funeral for the movie.
James Corden also appeared to mock the movie, admitting that he hadn't seen it yet but had "heard it's terrible".
BuzzFeed has reached out to reps of James Corden and Rebel Wilson, as well as Universal Pictures, for comment.
UPDATE
Yves McCrae responded to BuzzFeed News' request for comment. The post has been updated to reflect that.