The 97th Academy Awards took place on March 2, 2025. The ceremony took place at the Dolby Theatre in Hollywood, Los Angeles. 

One of the biggest topics of discussion online was Demi Moore losing the Oscar for Best Actress for her performance in The Substance, to Mikey Madison, who won it for her impactful role as a sex worker in Anora.

The internet was divided as they were rooting for Demi Moore, who has previously bagged the Best Actress Award at the Critics Choice Awards 2025, Screen Actors Guild Awards 2025, and the Golden Globes 2025.

Demi Moore took to Instagram to share a heartfelt post on what an incredible journey it has been. She was also a true sport as she sent her heartiest congratulations to Mikey Madison for the big win.

Demi wrote, “A huge congratulations to #MikeyMadison—can’t wait to see what you do next.”

She added, “As this awards season comes to a close, I’m so overwhelmed with gratitude for this journey. It’s been the ride of a lifetime and we’re just getting started! So grateful for my team, my fellow nominees, and everyone who has made this experience so full of joy and light. Thank you to the cast, crew, and fans of @trythesubstance—@isimostar and @coralie_fargeat it’s been an honour to work alongside you, learn from you, and celebrate this film with you.”

Several online debates also highlighted how Demi Moore losing out to Mikey Madison at the Oscars, was very similar to The Substance plot where a “younger and prettier” actress, wins.