Oscar night is underway in Hollywood

Stars are streaming down the red carpet at a 98th Academy Awards where few awards feel like shoo-ins, and the night is steering toward a coronation for either Paul Thomas Anderson or Ryan Coogler.

Most would call that a win-win.

Anderson’s “One Battle After Another” is the favorite heading into the ceremony at the Dolby Theatre in Los Angeles. But Coogler’s “Sinners” comes in the lead nominee with a record 16 nominations. Both filmmakers are poised to leave with their first Oscar.

But little else is assured at an Academy Awards where Michael B. Jordan or Timothée Chalamet (despite the ballet diss heard ‘round the world) could win their first Academy Award in a too-close-to-call best actor race.

Comedian Conan O’Brien is back for a second year to host the ceremony, held at the Dolby Theatre in Los Angeles. The telecast will air live on ABC and stream on Hulu beginning at 6 p.m. YouTube will be the new home of the Oscars beginning in 2029.

Live updates can be seen here .