A24's "Everything Everywhere All at Once" sweeps Oscars

A24's science comedy "Everything Everywhere All at Once" took home seven Academy Awards Sunday, including best picture — marking one of the most significant feats for an arthouse film in Oscar history.

Why it matters: The movie also broke new ground for Asian representation in Hollywood, with Michelle Yeoh becoming the first self-identified actress of Asian descent to win the award for best actress and Ke Huy Quan becoming the second Asian ever to win the award for best supporting actor.

"For all the little boys and girls who look like me watching tonight, this is a beacon of hope and possibilities," Yeoh said while accepting the award for best actress.

Of note: Films from major studios that would typically garner the attention of Hollywood's movie brass came up short.

Universal Pictures' "The Fabelmans," directed by Steven Spielberg, and Warner Bros.' "Elvis" didn't take home any prizes. Paramount's "Top Gun: Maverick," Disney's "Black Panther: Wakanda Forever" and Disney's "Avatar: The Way of Water" each took home one technical award for best sound, best costume, and best visual effects, respectively.

Between the lines: In addition to winning the award for best picture, best actress and best supporting actor, "Everything Everywhere All at Once" also won prizes for best editing, best supporting actress, directing and best original screenplay.

Netflix's "All Quiet on the Western Front," a German-language film, scooped the second-most number of awards of any film with four prizes for original score, cinematography, international feature and production design.

The big picture: The extraordinary Oscars acclaim of "Everything Everywhere All at Once"' represents a shift in Hollywood over the past few years towards recognizing more international works and diverse talent.

"Moonlight" became the first film to win best picture with an all-Black cast in 2017. "Parasite" became the first foreign-language film to win best picture in 2020. "Coda" became the first film with a predominantly deaf cast to win best picture in 2022.

Be smart: A24 took home more awards (nine) than any other movie studio Sunday, marking a significant milestone in its journey from a fledgling indie studio to an industry juggernaut.

It was also nominated for more awards (18) than any other studio across four different films. Last year, A24 raised $225 million to fuel its expansion. It was reported that the studio was exploring a sale for up to $3 billion. "Everything Everywhere All at Once" became its highest-grossing film domestically last year, The film brought in $73 million domestically on a $25 million production budget.

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