The starting gun has been shot, and voting for the 94th Academy Awards nominations is underway after another unpredictable season full of twists and turns, which could yield multiple surprises.

Variety film awards editor Clayton Davis and deputy awards and features editor Jenelle Riley break down some of the 23 categories for the Oscars in the latest video episode of “Awards Circuit.”

In the best picture category, Kenneth Branagh’s “Belfast” and Jane Campion’s “The Power of the Dog” are considered the heavy favorites for the top prize. However, anything can happen in the next six days, especially when in-person events are not taking place. Many of the film’s actors are also favored heavily, including Kodi Smit-McPhee, who has led the precursor tally in supporting actor.

With “Belfast,” Jamie Dornan and Ciarán Hinds are trying to assert themselves back into the race after missing SAG noms. Co-star Caitríona Balfe seems like the surest acting recognition for the drama.

There’s a surge in buzz for Paul Thomas Anderson’s “Licorice Pizza,” Siân Heder’s “CODA” and Denis Villeneuve’s “Dune,” all of which are expected to have an impressive showing on nomination morning. In addition, Steven Spielberg, a legend in the cinema world, is in the conversation for his remake of the musical best picture winner, “West Side Story,” which could yield a possible Oscar win for Ariana DeBose, who would be the second Latina ever to win the category.

Adam McKay’s “Don’t Look Up” has been widely seen and should yield nominations in many spaces, including best original screenplay. Still, the question is if Leonardo DiCaprio or Cate Blanchett will join the party. In the latter case, she’s pulling double duty with another role in Guillermo del Toro’s “Nightmare Alley,” which should perform well in the artisan categories.

Reinaldo Marcus Green’s “King Richard” is a feel-good play for Warner Bros, which has ushered star Will Smith to the forefront of the best actor race where he’ll be contending against Andrew Garfield for “Tick, Tick … Boom!” and Denzel Washington for “The Tragedy of Macbeth.”

The best actress race contains a massive amount of star power, and Olivia Colman (“The Lost Daughter”) and Nicole Kidman (“Being the Ricardos”) are beloved in the industry. They’re not the only loved ones, as Penélope Cruz (“Parallel Mothers”) and Jennifer Hudson (“Respect”) have been mounting a comeback within the acting branch. Can Lady Gaga (“House of Gucci”) add a second acting nod to her resume while Kristen Stewart (“Spencer”) looks to rebound from a SAG snub? They’ll be dueling with the likes of Jessica Chastain (“The Eyes of Tammy Faye”) for one of the few spots.

Watch the full episode above.