The 81st annual Golden Globe Awards nominations were announced on Monday morning, officially kicking off Hollywood's 2024 awards season. Cedric “The Entertainer” and Wilmer Valderrama took the stage to reveal the nominees in 27 categories honoring the best in film and television. The event was livestreamed by CBS News and also broadcasted live on "CBS Mornings" for selected categories.

The Golden Globe Awards have always been seen as a platform with two faces. In public, Hollywood puts on a show, expressing their gratitude for the nominations and portraying the event as a delightful experience. However, behind closed doors, industry insiders view the prizes as less meaningful markers of artistic excellence and more as crucial marketing opportunities for winter films and TV shows.

For years, the Golden Globes have been positioned as a crucial campaign stop for Oscar hopefuls, as nomination voting for the Academy Awards begins shortly after the Golden Globe nominations are announced. However, the impact of winning a Golden Globe may be overblown, as past winners have often failed to secure any recognition at the Oscars.

In 2023, “The Fabelmans” took home the Golden Globes for Best Film Drama and Best Director, while "The Banshees of Inisherin" was named Best Film Comedy or Musical. Both films also received Globes for acting and screenwriting. However, despite their success at the Golden Globes, neither film managed to win anything at the Academy Awards.

The companies behind the Golden Globes are hoping that the 2024 installment marks a turning point for the beleaguered enterprise. Following a widely publicized scandal and boycotts over allegations of racism and ethical lapses within the Hollywood Foreign Press Association (HFPA), which organized the Globes, the HFPA was disbanded and the Golden Globes were sold. Dick Clark Productions is now the owner and producer of the awards show.

In an effort to rebuild its credibility, the Golden Globes have made several changes this year. The upcoming ceremony will debut two new categories: cinematic and box office achievement in motion pictures, and best stand-up comedian on television. The eligibility period for consideration runs from January 1 to December 31, allowing films and series released within that timeframe to qualify for nominations.

The 2024 Golden Globe Awards ceremony will take place on Sunday, January 7, from 8-11 p.m. ET. CBS will broadcast the three-hour show as part of their new deal with the Golden Globes. The ceremony will also be available to stream on Paramount+ and the CBS app.

With the Golden Globes moving to CBS after ending its longstanding relationship with NBC, the award show is looking to regain its standing within the industry. The change in leadership and the addition of new categories aim to bring fresh energy and credibility to the event.

As the nominations were unveiled, Hollywood is now buzzing with anticipation for the upcoming awards season. The Golden Globes have set the stage, and industry professionals and film enthusiasts alike are eagerly awaiting the announcement of the Oscar nominations, which will begin the next phase of the race for artistic recognition in Hollywood.