Although the film is still viewed as a symbol of glamor and excess during the Golden Age of Hollywood , today the film has more of a mixed reception , with many critics believing that the film relies on its ( now-dated ) extravagance and is too long ; Christopher Null stated that '' The Great Ziegfeld '' is a " textbook case of how a film can lose its appeal over the years " . Since its release the film has been criticized in particular for being unnecessarily lengthy and its overacting ( particularly by Rainer ) , and is occasionally cited as a " prime example of the Academy 's fallibility " in a year when other critically acclaimed pictures such as '' Mr. Deeds Goes to Town '' were released , which some argue was more deserving of Best Picture . Rotten Tomatoes reports a 64 % approval rating based on 28 reviews , with a weighted average of 6.31 / 10 . The site 's consensus reads : " This biopic is undeniably stylish , but loses points for excessive length , an overreliance on clichés , and historical inaccuracies " . Emily W. Leider claims the film to be " more remarkable for its " legs and tinsel " extravagance than for its excellence . " David Parkinson of '' Empire '' gave the film 3 out of 5 stars and concluded that it " Drags in places and does n't even try for a true-to-life portrait of the great theatre entrepreneur but it 's shiny and big spectacle with impressive choreography . " Dave Kehr of the '' Chicago Reader '' called it " amazingly dull , even with William Powell in the lead and guest appearances by the likes of Ray Bolger and Fanny Brice . " Emanuel Levy gave it a C grade and stated that it was " overlong and overblown but ultimately mediocre as a musical movie and as a biopic of the legendary showman . " James Berardinelli awarded it 2.5 out of 4 stars and stated that " although some of the production 's technical aspects remain impressive , the dramatic elements come across as trite and many of the musical numbers are dated " , but said that it was a " reasonably competent – albeit " airbrushed " – presentation of the main character 's life . " The seven Academy Award nominations were announced on February 7 , 1937 , and on March 4 , 1937 , '' The Great Ziegfeld '' won three Oscars at the 9th Academy Awards for 1936 : Although he was not nominated for an Academy Award for his performance , Powell did receive the Screen Actor 's Guild award for Best Actor in a tie with C. Aubrey Smith who was in '' Little Lord Fauntleroy '' . In addition , the Guild 's Best Actress was given to Luise Rainer
9th Academy Awards
9th Academy Awards
The Great Ziegfeld