Robert Redford's theory about his Oscars snub

You're not alone if you thought Robert Redford was a shoo-in for an Oscar nod with "All Is Lost."

When the Oscar nominations were announced on Thursday, Redford's name was missing from the best actor nominees list - along with a few others, like industry favorite Tom Hanks.

But Redford - who's clarified he's not bothered by the snub - also has a theory about how his performance got overlooked.

The snub came up while the venerated actor was hosting a press conference for Sundance's kickoff on January 16.

"Hollywood is what it is," Redford said. "It's a business. And so when these films go before to be voted on, usually they're heavily dependent on campaigns that the distributors provide. There's a lot of campaigning that goes on and it can get very political, but that's OK because it is a business."

In the case of "All Is Lost," Redford continued, "I think we suffered from little to no distribution. We had no campaign to help us crossover into the mainstream. So I suspect that has something to do with it. Would it have been wonderful to be nominated? Of course. But I'm not disturbed by it or upset by it, because it is a business and we couldn't conform to that. I was so happy to be able to do this film because it was independent, and it stood the chance of having a wider distribution had they stepped up."