Twitter has launched a new Twitter Index that will track the Oscars buzz on the microblogging site ahead of the 85th Academy Awards next month, Digital Spy reported.

The new index will measure and rank conversation about the Oscar-nominated films and actors over the next six weeks up to the ceremony on February 24, 2013, in Los Angeles.

During what is generally dubbed "awards season" in the film and TV industry, Twitter is often the conduit for movie fans to discuss who won what, and whether it was justified.

In a blog post, Twitter's head of TV Fred Graver revealed that over 4 million tweets were posted on Sunday about the Golden Globes awards ceremony.

Backed by the Academy, the Twitter Oscars Index will reflect the "ebb and flow" of movie-related conversations throughout the awards season, showing how positively Twitter users are commentating about the major nominees relative to each other.

The index reflects the sentiment of tweets about nominees in the six biggest Oscar categories - 'Best Picture', 'Best Actress', 'Best Actor', 'Best Supporting Actress', 'Best Supporting Actor' and 'Best Director'.