Beyonce receives first ever Oscar nomination as she looks toward EGOT status

Beyonce was nominated for King Richard

Beyonce has been nominated for her first ever Oscar for Best Original Song.

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The 40-year-old's name was announced on Tuesday morning, recognizing her song 'Be Alive' for the Will Smith film King Richard. The song is a collaboration with Dixson. If she wins, Beyonce will be one step closer to the coveted EGOT title; only 16 people have the EGOT status, which means they have won an Emmy, Grammy, Oscar, and Tony in their lifetime.

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WATCH: See the trailer for Serena and Venus Williams' film King Richard

Beyonce has been nominated for several Emmys before, and at 40 and in the peak of her career is sure to find herself nominated again.

Tony awards are for stage plays or musicals, and although she has yet to grace the boards, the multi-hyphenate surely has the talent to be involved in a stage performance at some point.

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She has 28 Grammys wins, and is the most awarded and most nominated woman artist in Grammy history.

For the Oscar she is up against Billie Eilish’s No Time to Die for the James Bond movie of the same name, as well as Diane Warren (Four Good Days), Lin-Manuel Miranda (Encanto), and Van Morrison (Belfast).

King Richard has six nominations

King Richard has six nominations, including Best Actor for Will, Best Supporting Actress for Aunjenie Ellis, and Best Picture.

The film tells the story of how tennis superstars Serena and Venus Williams became who they are after the coaching from their father, Richard Williams.

As the synopsis reads: "Armed with a clear vision and a brazen, 78-page plan, Richard Williams is determined to write his two daughters, Venus and Serena, into history. "Training on tennis courts in Compton, Calif., Richard shapes the girls' unyielding commitment and keen intuition. Together, the Williams family defies seemingly insurmountable odds and the prevailing expectations laid before them."

The Power of the Dog, Dune, Belfast and West Side Story are the front-runners to win big at the 94th Academy Awards, battling it out next month on Sunday 27 March.

Last year saw the likes of Anthony Hopkins and Frances McDormand take home top acting honors, while Nomadland's Chloé Zhao also made history as the first woman of color to win best director.

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