Ariana Grande already an Oscar favorite for ‘Wicked’ — but she’ll be shut out of Best Actress twice

Ariana Grande is looking like an early favorite to win Best Supporting Actress at the 2025 Oscars — while her “Wicked” costar Cynthia Erivo is set to face fierce competition from Angelina Jolie and Mikey Madison in the Best Actress category, Hollywood sources told Page Six.

The stars of the musical blockbuster, which has made $263 million in the US alone in just 10 days, have already been corralled into the different categories for their roles of Galinda/Glinda and Elphaba, respectively, rather than duking it out with each other.

Studio chiefs at Universal Pictures have submitted that request to the Academy of Motion Picture Arts and Sciences after consulting with Erivo and Grande’s teams. Ultimately, the final decision lies in the Academy’s hands.

And it’s expected that the same pattern will be followed next year, after the second part of “Wicked” is released in November — meaning Grande, 31, will be shut out of the Best Actress category twice, but also that Erivo, 37 will get a second shot.

“They both put their hearts and souls into this project, and I am sure they will both have two shots at Oscars,” an industry source said.

The actresses, who have spoken at length about the close bond they developed during filming, are fresh off a mammoth worldwide promotional tour which has seen them openly weep during emotional interviews and has launched the “holding space” meme.

Last week, Universal was forced to issue a statement denying online rumors that Grande was paid $15 million for “Wicked” while Erivo got $1 million — saying the stars were paid the same salary.

Awards season kicks off straight after the holidays, with the Golden Globes on January 5 — where “Wicked” is said to be a shoo-in to win Best Motion Picture — Comedy or Drama.

Oscar nominations will be announced on Jan. 17, and Gold Derby bookies already have Grande as the favorite against Zoe Saldaña in “Emilia Pérez.”

Danielle Deadwyler (“The Piano Lesson”), Isabella Rossellini (“Concave”), Monica Barbara (“A Complete Unknown”), Saoirse Ronan (“Blitz”) and Felicity Jones (“The Brutalist”) are also under consideration for Best Supporting Actress noms.

Mikey Madison’s star turn in “Anora” is currently the bookies’ favorite for Best Actress, and she is expected to do battle with Erivo, Angelina Jolie (“Maria”) and Karla Sofía Gascón (“Emilia Pérez”), who would be the first trans actress to be nominated.

Other names floated are Nicole Kidman for “Babygirl” and Marianne Jean-Baptiste in “Hard Truths.”

There is even talk of “Wicked” as a Best Picture hopeful after it smashed the box office again over the Thanksgiving weekend, grossing $360 million internationally over 10 days in theaters.

“The Oscar voters loved ‘Wicked,’ there were tears and standing ovations in previews,” said the industry insider. “I would not be surprised if it pulled off a win.”