The festival season is one of the most anticipated times of the year as the awards contenders begin to be unveiled and the studios begin their big marketing campaigns. This year Toronto, Venice, and some of the New York Film Festival's lineups have already been announced with many of the usual suspects included.

What exactly do these festivals say about Oscar season?

The past eight Best Picture winners premiered at Telluride, Toronto or Venice. Out of those eight, seven premiered at Toronto, which has had a great track record over the years. Only last year's Best Picture winner, "Birdman," skipped the Toronto Film Festival and opted for a premiere at Venice and New York.

However, three Best Picture nominees went to Toronto and Julianne Moore's "Still Alice" was the big discovery as it was acquired at the festival and went on to win the Best Actress award.

Which films seem like heavy hitters this year?

One of the biggest films this year is "The Danish Girl" starring Eddie Redmayne and directed by Oscar winner Tom Hooper. The film is making its world premiere at the Venice Film Festival where it will compete for the Golden Lion and then will move to Toronto for its North American premiere. The film is being released by Focus Features and buzz is high especially given Redmayne's recent Oscar win and Hooper's relationship with the Academy. His last two films have been nominated for Best Picture, with "The King's Speech" winning the award.

Another big film is "Steve Jobs." The film will make its world premiere at Toronto and later heads to New York for a centerpiece screening. Universal has high hopes for the film, especially with Danny Boyle at the helm and a cast that includes Oscar winner Kate Winslet and Oscar nominee Michael Fassbender. It also does not hurt that Aaron Sorkin is one of the most popular scriptwriters of his generation.

The Cary Fukunaga film "Beasts of No Nation" also looks like a promising entry as it will premiere at Toronto and Venice and has had buzz for a number of months. However, the big question is how Netflix and the Academy will get along. To this date, the Academy has been very stringent about theatrical releases and has never nominated a single VOD film for Best Picture. However, this film could revolutionize distribution and even the awards game.

One film that is also getting the Venice and Toronto treatment is "Black Mass." Scott Cooper's latest starring Johnny Depp looks promising as it could be a comeback for the actor. A Best Picture is unlikely especially due to the early release and the fact that it is a crime drama, a genre the Academy dislikes. However, Warner Bros. seems to be pushing "Black Mass" heavily.

Other Oscar contenders that will premiere this season include the LGBT drama "Freeheld" with Julianne Moore and Ellen Page and the Sundance hit "Brooklyn" with Saoirse Ronan. Brie Larson's drama "Room" will also play in Toronto and will be a huge contender for distributor A24.

A number of Cannes films will be back to regain the Oscar buzz they may have missed earlier this year. These include "Sicario," "The Lobster" and the Palme d'Or winner "Dheepan." Festival favorites "Victoria" and "Son of Saul" as well as "The Club" are also returning to the circuit.

There were a number of absentees including Cannes favorites "Macbeth" and "Carol." However, there is speculation that the Weinstein Company could premiere the films in New York to avoid the crowded slate and to gain more attention for the films. David O. Russell's "Joy," Steven Spielberg's "Bridge of Spies" and Alejandro Gonzalez Inarritu's "The Revenant" look like they will be skipping the Festival circuit all together in order to finish their films on time and without rushing them.

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