The Academy of Motion Picture Arts and Sciences announced Friday that a total of 323 feature films are eligible for the 2014 Academy Award for Best Picture.

To be eligible for the 87th Academy Awards, films must open in a commercial movie theater in Los Angeles County by midnight Dec 31 and have a minimum run of at least seven consecutive days. They also must have a running time of more than 40 minutes and be shown on 35mm or 70mm film, or in a qualifying digital format.

Meanwhile, the Academy also announced that 79 tunes are vying for the Oscar for best original song. The five ultimate nominees will be chosen by the Academy's Music Branch.

Oscar nominations will be announced on Jan 15 and the Oscars awards will be presented on Feb 22.

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86th Academy Awards