The 2026 Tony Awards, honoring achievements in Broadway theater, are underway with two productions leading the nominations. Multiple outlets report that “The Lost Boys: A New Musical” and “Schmigadoon!” enter the ceremony tied for the most nominations, each earning 12 nominations. As the awards are announced live, each publication is updating its winners list, indicating that results are still unfolding while the nominations landscape is already clear. The coverage aligns on the key competitive setup: the two musicals are the principal frontrunners by nomination count. The reports do not present additional details in the provided excerpts about which specific categories each production leads or how the nominations translate into wins thus far. Instead, the focus of the current updates is on the shared lead in nominations and the live publication of the evolving winners list. Further updates would be required to confirm the distribution of awards across categories, but the agreed starting point is that both musicals hold the same top nomination total going into the night.