Although disappointed, I expected this outcome. The British Academy of Film and Television Arts is a different body than the Academy of Motion Picture Arts and Sciences. Historically BAFTA leans more toward recognizing British actors and filmmakers. Films that are a bit more Americana are vulnerable at these awards, and for pictures like August: Osage County and Dallas Buyers Club, the writing was on the wall (but congrats to Julia Roberts on her supporting nomination!).
This is not to suggest that Streep isn't vulnerable for being snubbed next week for an Oscar nom. I just don't think her lack of a BAFTA nod is the end. Meryl has already been nominated for a Globe, SAG and Critics' Choice award. I'd rather her have all of those three than a BAFTA if I were to assume any predictive value in the precursors. Plus, today is the deadline for Oscar nomination ballots, so they're basically already decided. Here are the BAFTA noms for Leading Actress:
1. Amy Adams (American Hustle)
2. Cate Blanchett (Blue Jasmine)
3. Sandra Bullock (Gravity)
4. Judi Dench (Philomena)
5. Emma Thompson (Saving Mr. Banks)
At this point, I feel Cate Blanchett, Sandra Bullock and Judi Dench are locks for nominations. Adams, Thompson and Streep are fighting for the fourth and fifth spots and I would predict them as:
The full list of BAFTA nominees can be seen here.