Official Competition is a comedy-drama film that follows the story of a wealthy businessman named Humberto Suárez, who decides to finance a film to leave a lasting legacy. He hires acclaimed filmmaker Lola Cuevas to direct the project, with Iván Torres and Félix Rivero playing the lead roles. The two actors are complete opposites, with Iván being a method actor who extensively prepares for his roles, while Félix is a more mainstream Hollywood actor who finds Iván's methods pointless. Lola proves to be an eccentric director, requiring her actors to perform increasingly bizarre exercises, such as repeating single lines or words until she deems them convincing enough. She also crushes their various awards in an industrial shredder during one session, including a handmade one that was given to Iván by students at a disabled school where he once taught. During rehearsals, Félix reveals that he has been diagnosed with pancreatic cancer and is on palliative care, hoping that Rivalry will be his final masterpiece. Iván suggests to Lola that he could play both brothers if Félix ends up unable to complete the project. However, Felix later confesses that his diagnosis was a lie, which he used to prove to the pair that he could fool them with his acting skills. Despite the tension between them, all three manage to put aside their differences and come together to create an unforgettable film.

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Some movies that have similar genres and were produced around the same time as Official Competition include The Idea of You, The Holdovers, Mother of the Bride, Parasite, Saltburn, Miller's Girl.

Official Competition was released in theaters on June 17, 2022.