73rd Annual Golden Globe Awards - Press RoomLady Gaga is having a great week: After earning a Golden Globe on Sunday for her acting debut in "American Horror Story: Hotel," Gaga just nabbed her first Oscar nomination, earning a nod for Best Original Song. And you know what that means: Mother Monster is officially on EGOT watch.

While some media outlets mistakenly reported this weekend that Gaga's Globes win put her on the EGOT path (those misbegotten tweets were hastily deleted), Thursday's nomination -- for co-writing the tune "Til It Happens to You" from documentary "The Hunting Ground" -- now confirms that the musician-turned-actress is indeed on her way to earning another component of the crowning four achievements in entertainment: An Emmy, a Grammy, an Oscar, and a Tony. Gaga already has a whopping six Grammys on her shelf, with another nomination pending, also for "Til It Happens to You."

So how likely is it that Gaga will actually walk away with an Academy Award next month? The Oscars usually favors flashy nominees (think Adele, who won in 2013 for the "Skyfall" theme, or last year's winners, Common and John Legend, for their "Selma" anthem, "Glory"), and the music superstar is no slouch in that department. But this year's field is pretty stacked, with other big names including Sam Smith (another Bond theme, "The Writing's On the Wall," from "Spectre") and The Weeknd ("Earned It" from "Fifty Shades of Grey." Yes, "Fifty Shades" is officially an Oscar nominee. We can't believe it, either).

Gaga is arguably a bigger star than either of those artists, and her co-writer, Diane Warren, is an Oscar favorite, with seven previous nominations under her belt (though no wins). So a triumph on Oscar night is certainly possible, but not necessarily a given. (That falls in line with this awards season being one of the hardest to predict in recent memory.)

We'll be watching with bated breath on Oscar Sunday. The Academy Awards ceremony airs on ABC on February 28.

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