Final answer:
The movie that earned 14 Oscar nominations in 2016 but did not win Best Picture is La La Land. It tied the record for the most nominations but was upset by Moonlight for the Best Picture award.
Step-by-step explanation:
The movie that set an Academy Awards record in 2016 by earning 14 Oscar nominations but not winning Best Picture is La La Land. This film joined the ranks of only two other movies that received this many nominations: All About Eve and Titanic. In a night of surprises, Moonlight took home the accolade for Best Picture.
Many factors contribute to the high cost of making a movie, from extensive labor to countless individual contributions. As recognition for their hard work and achievements, individuals in the film industry aspire to receive an Oscar, the highest award granted in filmmaking.