The 98th Academy Awards are currently taking place, with Australia's prominent actors Rose Byrne and Jacob Elordi in contention for their first Oscars, making this a significant event for Australian cinema. The film 'Sinners' has garnered a total of 16 nominations, positioning it as a frontrunner, while another film, 'One Battle After Another', also aims to make an impact during this awards season. The anticipation surrounding these nominations highlights the growing recognition of Australian talent on an international stage.

As the event unfolds, Conan O’Brien takes the center stage as the host, known for his comedic prowess. His remark about wanting to see actor Adrien Brody's acceptance speech—a record-length moment from a previous Oscars—adds a touch of humor and sets an engaging tone for the evening. O’Brien's involvement reflects the tradition of prominent personalities hosting this prestigious event, aiming to entertain viewers while showcasing the industry’s best.

The Oscars are not just about the awards; they represent a culmination of an awards season where different films and performances are celebrated. With this year’s nominees announced across various categories, the audience can expect surprises and emotional moments while acknowledging cinema's evolution and the contributions of international artists. The involvement of actors like Byrne and Elordi, who have made their mark in both local and international projects, speaks to the broader narrative of diversity and talent in the film industry today.