Oscar 2014 Nominations Predictions: 'Inside Llewyn Davis' First Best Picture Front Runner

After its Cannes Premiere, "Inside Llweyn Davis" has become a major Oscar contender.

The film, starring Oscar Isaac, Justin Timberlake, and Carey Mulligan, tells the story of a singer-songwriter who navigates New York's folk music scene during the 1960s.

The Coen brothers directed the movie after their biggest hit "True Grit." And the directors certainly have a track record full of awards, as they have been nominated for 13 Academy Awards and have won four. They have been shortlisted four times for best picture and won once for "No Country For Old Men."

The movie is currently a front runner for the Palme d'Or at Cannes after having premiered to rave reviews. Such a prestigious accolade may give "Inside Llewyn Davis" a greater chance at the best picture nomination as the last two winners---"The Tree of Life" and "Amour"---were nominated for an Oscar. 

Some critics have raved and stated that the new flick is "one of the best and most understated movies about the grieving process."

Isaac's performance also received good notices with Screen International. 

"Thanks to a sterling lead performance from Oscar Isaac, the Coen brothers have once again delivered an impressively nuanced character study," the publication wrote. 

Indiewire called his performance "a melancholy, worn performance that's equally funny as well (sometimes both at the same time)."

However "Inside Llewyn Davis" will have to first beat out fierce competition this year. And with CBS Films heading the distribution, the movie faces an uphill battle. CBS has yet to run a successful awards campaign and arguably failed last year when they attempted to get "Seven Psychopaths" a Golden Globe nomination. The company's only success thus far was when "Salmon Fishing on the Yemen" received surprising Golden Globe nominations. Still, the company has yet to land Oscar nods and its films have yet to become big box office successes.

Nonetheless, the early buzz and expected stops at Toronto and Venice in the fall may make "Inside Llewyn Davis" the film to beat at the 2014 Oscars on March 2.