
Overview
- Demi Moore’s standout performance in The Substance has garnered significant attention, highlighting the film’s success within the body horror genre.
- A captivating fan theory proposes that Elizabeth’s experiences in the film are either purely imaginary or the result of a dying dream, enriching the narrative’s interpretation.
- The film’s rapid rise to fame signals not only its engaging storyline but also its profound social commentary, resonating even with those who typically shy away from horror.
Demi Moore’s nomination for Best Actress at the upcoming 2025 Academy Awards has intensified fan enthusiasm for The Substance, a gripping body horror film. Moore delivers a powerful portrayal of actress Elizabeth Sparkle, complemented by Margaret Qualley’s performance as Sue, the younger version of Elizabeth who emerges through a mysterious drug. Directed and penned by Coralie Fargeat, The Substance has quickly become one of the most celebrated films in the body horror category since its release in September 2024, a remarkable feat as this subgenre often thrives on cult following rather than mainstream critical acclaim.
Despite the absence of a sequel, discussions surrounding the film’s themes and significance continue to flourish among fans. A particularly intriguing fan theory has surfaced, providing a fresh perspective on Elizabeth’s harrowing journey.
Interpreting a Fan Theory: Is It All in Elizabeth’s Head?

One Reddit user, @Clear-Rest-988, proposed a compelling theory regarding Elizabeth’s narrative arc. The fan speculated:
“What if it was all in Elizabeth’s head? The Substance is an unknown illegal drug that you can only acquire in a shady back alley and whose dealer you never directly contact. So imagine if after the first hit of this thing, Elizabeth passed out, possibly hits her head, and then has this crazy nightmare about the effects of the drug and her career. We just don’t see her wake up from it after she ‘dies.’”
Another fan, @Taraxian, echoed this sentiment, suggesting:
“Or none of that even happened and Elizabeth actually died in that car accident; the whole movie is her dying dream.”
This perspective would indeed render the conclusion of The Substance even more poignant, indicating that Elizabeth may have never had a chance to navigate the challenging beauty standards imposed by Hollywood. Fellow Redditor @SyntheticCafe speculated that perhaps Elizabeth died without apparent injuries after her accident, leading to her encounter with a mysterious nurse and the drug.

While the notions of a character’s journey being a dream or ghostly existence can sometimes feel clichéd, these interpretations align well with The Substance’s surreal and eerie atmosphere. As Elizabeth succumbs to the drug’s influence, her reality becomes increasingly distorted, leaving viewers to reconsider her experiences as either a constructed fantasy or events following her untimely death.
Regardless of opinions on these theories, one aspect remains universally acknowledged: The Substance stands out as one of the most prominent entries in recent body horror films, cultivating a dedicated and passionate following. With its blend of thrilling horror and meaningful storytelling, the film paves the way for other filmmakers to share their unique eerie tales. It might not fit the traditional mold of the genre in terms of sheer gore, but its thoughtful social commentary resonates with viewers beyond the confines of horror fandom, aligning it with the trend of ‘elevated horror’ that addresses real societal issues.
Demi Moore’s Insights on Her Role in The Substance

Demi Moore’s reflections on her character, Elizabeth, provide valuable insight into the film’s heart. In an interview with W Magazine, Moore expressed that while she wasn’t initially a fan of the body horror genre, the script’s depth resonated with her. She emphasized that although the film features unsettling body horror sequences, the underlying narrative addresses the pressing issue of how Hollywood often marginalizes older actresses, often dismissing them once they reach 40. She stated:
“I think the film is about the fear of what others think, of not measuring up, that compare and despair. That idea really moved me and made me want to step in and explore the depths of that heartache.”
Upon receiving her Oscar nomination for The Substance, Moore expressed her amazement and appreciation, sharing with Entertainment Weekly:
“Being nominated for an Oscar is an incredible honor, and these last few months have been beyond my wildest dreams.”
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