Taylor Swift's New 'Toy Story 5' Song Could Compete for Both Oscar and Grammy Nominations

Taylor Swift has released "I Knew It, I Knew You," a new track for Toy Story 5 created in collaboration with producer Jack Antonoff. The song has already sparked speculation among fans about its potential to earn recognition at major awards shows.

The 36-year-old artist and Antonoff crafted the song specifically for the film, which makes it eligible for consideration in the Academy Awards' Best Original Song category. The Oscar eligibility criteria require that both lyrics and music be created originally for the motion picture—a requirement this track satisfies.

The Toy Story franchise has a notable history with the Best Original Song category. Randy Newman received nominations for compositions from each of the first four Toy Story films, winning the award for "We Belong Together" from Toy Story 3. Should Swift earn a nomination this year, it would mark her first-ever Oscar nomination.

Beyond the Oscars, "I Knew It, I Knew You" also qualifies for Grammy consideration. The song meets the requirements for the Best Song Written for Visual Media category at next year's Grammy Awards, which recognizes compositions created specifically for film, television, video games, and other visual media.

Swift has previous experience winning in Grammy's songwriting categories. She claimed songwriting Grammys for "White Horse" (2010) with Liz Rose and the self-written "Mean" (2012). Her Best Song Written for Visual Media win came in 2013 for "Safe & Sound" from The Hunger Games, which she created alongside T Bone Burnett, John Paul White, and Joy Williams of The Civil Wars.

Antonoff brings his own Grammy pedigree to the project. He has won three songwriting Grammys: for 2013's "We Are Young" with fun. and Janelle Monáe, St. Vincent's "Masseduction" in 2019, and in 2026 for "tv off" with Kendrick Lamar, Larry Jayy, Dijon McFarlane, Sean Momberger, Sounwave, and Kamasi Washington.

While Swift and Antonoff have not previously won a songwriting Grammy together, they've collaborated successfully on other projects. Together they've earned Album of the Year Grammys for 1989, Folklore, and Midnights, as well as a Best Pop Vocal Album award for Midnights. Combined, the pair has accumulated 14 Grammy Awards each to date.

The 2027 Grammy Awards will take place on Sunday, February 7, 2027, while the Academy Awards ceremony is scheduled for Sunday, March 14, 2027.