'La La Land' Ties With 'Titanic' and 'All About Eve' for Most Oscar Nominations

'Titanic' won in 11 of the 14 categories it was nominated in at the 1998 Oscars.

La La Land's multiple Oscar nominations has put the musical movie in an elite group.

Director Damien Chazella's film earned 14 nominations on Tuesday, making it tied with James Cameron's 1997 blockbuster, Titanic, and the classic 1950 film, All About Eve.

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Emma Stone and Ryan Gosling were both nominated for their lead roles in La La Land, while Chazella is up for Best Director. The film is also up for Best Picture, Best Cinematography, Best Original Screenplay, Best Costume Design and Best Original Score -- to name a few.

La La Land can only hope to sweep the Oscars like Titanic did in 1998. The film won 11 of the 14 awards it was up for, including Best Picture, Best Director, Best Cinematography and Best Original Song. However, Titanic's leading man and lady, Leonardo DiCaprio and Kate Winslet, did not take home statues that year. In fact, DiCaprio was not even nominated.

Currently, Titanic is also tied with The Lord of the Rings: The Return of the King (2004) for most Oscar wins.

MORE: See the Full List of Oscar Nominees

As for All About Eve, the critically acclaimed drama won six Academy Awards in 1951, including Best Picture, Best Sound, Best Costume Design, Best Directing and Best Writing. While Bette Davis, Anne Baxter, Celeste Helm and Thelma Ritter were all nominated for their performances, George Sanders was the only actor to win for his supporting role.

We'll soon know if Stone and Gosling will take home Oscars, when the 89th Academy Awards airs Sunday, Feb. 26, on ABC in Hollywood, California.

The co-stars both won Golden Globes earlier this month for La La Land, and spoke to ET backstage about their emotional acceptance speeches. Here's what they had to say: