Today, most mainstream cinematic movies are made to be watched in 24 frames per second (FPS). This is despite the widespread availability of screens and cameras made for 60 FPS content. Services such as Youtube, Netflix and Vimeo already have the ability to playback content in 60 FPS.
Some movies have been released in 48 FPS, such as The Hobbit, and some even in 120 FPS, such as Gemini Man or (parts of) Billy Lynn's Long Halftime Walk, but none of these have had widespread acclaim by critics. One way to measure how much critics enjoy a film is the Academy Awards (known as the Oscars), which nominates and gives awards to films and directors & actors of films.
When will a high frame rate film be awarded an Academy Award?
We consider High Frame Rate (HFR) to be 59.5 or higher FPS. A film will qualify even if it is not HFR for the entirety of the film.
This question will resolve when an Academy Award is given to a movie that is released in HFR before it is nominated. The award must be in the categories of Best Picture, Best Director, Best Actor or Best Actress. When the award is given to a person, such as "Best Actor", then the movie they performed in to get the award must have been released in HFR.
A movie is "released in HFR" if the general public can view the movie in HFR format, whether this is online streaming, in theater, on blue-ray, or otherwise.