Meryl Streep and Julia Roberts' new movie August: Osage County has been given a massive Oscars boost after picking up four awards at the Capri, Hollywood Film Festival.

The movie adaptation of Tracy Letts' play about a dysfunctional family's reunion was named Film of the Year on Wednesday (01Jan14), while Streep picked up the Best Actress trophy and the cast won the Best Ensemble prize.

Streep's co-star Chris Cooper also picked up the festival's Lifetime Achievement Award.

Officials at the festival, staged on the island of Capri, have a history of picking the Best Film Oscar winner - they handed their top prize to The Artist, The King's Speech and Slumdog Millionaire, which all went on the win big at the Academy Awards.

Other winners at the festival included Idris Elba, who was named Best Actor for Mandela: Long Walk to Freedom, and his co-star Naomie Harris (Best Supporting Actress); U2's Ordinary Love, from the film's soundtrack, which was selected as Best Song; Saving Mr. Banks (Audience Award); The Great Beauty (Visionary Movie Award); Valeria Golino (European Actress of the Year), and Emily Ratajkowski (Rising Star).