The Verdict: Auteur Over Algorithm
Paul Thomas Anderson's One Battle After Another won Best Picture at the 98th Academy Awards, leading the ceremony with six total wins. But the numbers tell a complicated story.
The Scoreboard
| Metric | One Battle After Another | BP Winner Avg (2015-2025) |
|---|---|---|
| IMDb Rating | 7.7 | 7.9 |
| RT Critics | 98% | 91% |
| RT Audience | 88% | 85% |
| Budget | $175M | $42M |
| Worldwide Gross | $210M | $218M |
| ROI | 0.20x | 4.7x |
| Oscar Noms | 13 | 9.2 |
| Oscar Wins | 6 | 3.8 |
The Money Problem
At a reported budget of $130-175M (Variety pegged the final number at $175M, Warner Bros. claimed $130M), this is the most expensive film PTA has ever directed by a factor of ten. Its worldwide gross of $209.6M barely clears the lower budget estimate. Variety reported the film would lose approximately $100 million in theaters.
Domestically, the film earned just $72.3M. International markets saved it from complete financial humiliation, with strong runs in the UK, France, Spain, Italy, and Australia accounting for 65% of total gross.
By ROI, this is the worst-performing Best Picture winner since The Hurt Locker ($49M worldwide on a $15M budget, but with a 2.3x return). One Battle After Another's sub-1.0x theatrical ROI makes it a certified money-loser.
The Critical Shield
Where the film dominates is critical reception. A 98% RT score is the highest for any PTA film and one of the highest for any Best Picture winner ever. The film debuted at the TCL Chinese Theatre on September 8, 2025, to rapturous reviews. Critics called it his most accessible work since Boogie Nights.
Who It Beat
The Best Picture field: Bugonia, F1, Frankenstein, Hamnet, Marty Supreme, The Secret Agent, Sentimental Value, Sinners, and Train Dreams.
Of these, Sinners ($370M WW, 97% RT, 7.5 IMDb) and F1 ($633M WW, 82% RT, 7.6 IMDb) both outperformed commercially. The data says Sinners was the strongest overall candidate. The Academy disagreed.
The Cast
Leonardo DiCaprio, Sean Penn, Benicio del Toro, Regina Hall, Teyana Taylor, Chase Infiniti. Four acting nominations from one film (DiCaprio for Lead, Penn and del Toro for Supporting, Taylor for Supporting). Penn won.
The Source
Adapted from Thomas Pynchon's 1990 novel Vineland, though PTA himself admitted: "I stole the parts that spoke to me and just started running like a thief." This loose adaptation still qualified for Adapted Screenplay, which PTA won.
Data Verdict
The Academy rewarded directorial vision over commercial viability. PTA's career is full of critically acclaimed, commercially modest films. His career IMDb average hovers around 7.5-8.0. This win is about the Academy crowning an auteur whose turn had come, not about the numbers adding up. The data does not fully support this as Best Picture. But the 98% RT score is hard to argue with on the quality axis alone.