Meryl Streep could be up for her 20th Academy Award nomination. The three-time Oscar winner is starring in one of the most anticipated films of the year as she portrays the real life figure Florence Foster Jenkins in Stephen Frears' film of the same title.

Florence Foster Jenkins

Streep's film had an early screening that had pundits riveted and where most praised the star for her wonderful work in the film. The film opened in Europe back in the spring where it received an overwhelming amount of praise and Streep received awards buzz.

Streep is one of the most beloved actresses in Hollywood and has the record for the most nominations. She is likely to expand this record if the Academy enjoys the film enough and are able to remember it. "Florence Foster Jenkins" opens in August, a month that has been very fruitful for Streep's film. During this month she has been seen in "Mama Mia," "Hope Springs" and "Julie and Julia," all of which opened to great results. Additionally, Streep's summer flicks have also included "The Devil Wears Prada," which obtained a huge box office and also got her an Oscar nomination.

It may be too early start predicting Oscars but it's important never to leave out Streep, who has been a favorite for years. If "Florence Foster Jenkins" hits the right notes with audiences this could give Streep an edge for yet another nomination and could potentially give her her fourth Oscar. The Academy has always favored performances based on real people and Streep's last win was for her portrayal of Margaret Thatcher.

Stephen Frears

It's also important to remember that the Academy has a soft spot for Stephen Frears' films. The director has led several actors to nominations including Judi Dench ("Philomena," "Mrs. Henderson Presents"), Helen Mirren ("The Queen"), Michelle Pfeiffer ("Dangerous Liaisons") and Glenn Close ("Dangerous Liaisons").

"Florence Foster Jenkins" tells the story of a wealthy New York heiress who attempts to become an opera singer despite her horrible singing voice. The film also stars Hugh Grant and was directed by Stephen Frears ("The Queen," "Philomena"). The film opens on August 12.