Today, the BAFTA nominations will be announced for all 25 categories.
Many people will have their eye on the top categories, which include Lead Actor and Lead Actress.
So, who are the frontrunners for the BAFTA shortlists?
Demi Moore is back on the awards scene after her riveting performance as Elizabeth Sparkle in The Substance; she will be up against heavy hitters Cynthia Erivo (Wicked) and Kate Winslet (Lee).
Saoirse Ronan was named in the BAFTA longlist for her performance in The Outrun, but missed out on a double nomination for her leading role in Blitz.
Frontrunners for Lead Actor include Adrien Brody for his role in The Brutalist, a film which has not yet hit UK cinemas.
Timothee Chalamet earned himself a place on the longlist for Best Actor following his portrayal of Bob Dylan in A Complete Unknown.
Many blockbuster films were released in 2024 such as Wicked, which is a prequel to The Wonderful Wizard of Oz and The Substance which redefined the body horror genre.
Both of these are on the longlist for Best Film, but another huge blockbuster, Gladiator II, was absent from it.
It did, however, make the longlist for Outstanding British Film alongside films such as LEE, Paddington in Peru, The Outrun and Conclave.
The shortlist nominations are due to be announced at 12:00 GMT time, and will be streaming on BAFTA’s YouTube channel.