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The movie 鈥淟a La Land,鈥� a new original musical that stars Emma Stone and Ryan Gosling, is now in limited release. Will the film, with its throwback musical story that could offer an escape for viewers after a difficult year, succeed at the 2017 Oscars?聽

鈥淟a鈥� stars Ms. Stone as Mia, an aspiring actress who is working as a barista, and Mr. Gosling as Sebastian, a jazz pianist. The film is written and directed by Damien Chazelle of 鈥淲hiplash.鈥澛�

The movie has gotten very positive reviews so far, with Monitor film critic Peter Rainer calling the film a 鈥渄eliriously fine movie musical.鈥�

Many critics have written of the happiness with which the movie leaves viewers, and the intrinsically hopeful tone of a musical. 鈥淭he entire film seems to have been conceived in a state of controlled bliss,鈥� Mr. Rainer wrote.

And so after what was in many ways a divisive year, industry watchers are debating whether 鈥淟a鈥� will succeed at the Academy Awards.聽

鈥淭he common wisdom [with 鈥楲a La Land鈥橾 is that people may just need an escape: a Hollywood romance about the romance of Hollywood,鈥� Michael Schulman of The New Yorker聽wrote. But the film transcends that genre, he says, giving Hollywood an opportunity聽鈥渢o recast itself not as a playground of 茅lites but as a land of underdogs, where any dreamy-eyed kid can make it big. It鈥檚 a get-out-of-jail-free card from whatever alienation the movie industry may be feeling from 鈥榬eal America,鈥� to whom Hollywood must appeal as politicians do.鈥澛�

Mr. Schulman didn鈥檛 predict a win or loss for the film, however, writing, 鈥淔orgive me for not making predictions. Another lesson of the 2016 election: prognostication is a fool鈥檚 game.鈥�

Meanwhile, David Sims of The Atlantic writes that 鈥淟a鈥� could succeed, but that the recent Oscars controversy might lead the Academy to go with another film.

鈥淭he throwback musical 鈥楲a La Land鈥� would be a vote for escapism, though to that film鈥檚 credit, it is partly a fable about the dangers of nostalgia,鈥� Mr. Sims wrote. An award for 鈥淢oonlight,鈥� on the other hand聽鈥� which tells the story of a young, gay African-American man聽鈥撀犫�渨ould be a push for more searing relevance.鈥�

But with increasing attention on the Academy's diversity, or lack thereof,聽鈥淎 slew of trophies for 鈥楲a La Land鈥� might not really signal meaningful progress,鈥� Sims wrote.聽鈥淭his year鈥檚 institutional changes might be enough to radically push the Oscar race away from the conventional choices; as it stands now, another year of escapism will be on deck come February.鈥�