Season favourite "La La Land" won the Producers Guild of America's (PGA) Darryl F Zanuck Award for best feature film of 2016.
Producers Fred Berger, Jordan Horowitz, and Marc Platt took home the top honour, reported Variety.
Dustin Hoffman presented the award at the conclusion of the 28th Annual Producers Guild Awards ceremonies at the Beverly Hilton Hotel.
The musical comedy-drama defeated "Arrival," "Deadpool," "Fences," "Hacksaw Ridge," "Hell or High Water," "Hidden Figures," "Lion," "Manchester by the Sea," and "Moonlight."
The movie starring Emma Stone as an aspiring actress and Ryan Gosling as a struggling musician is set in modern-day Los Angeles.
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"Damien Chazelle has made a story about the sacrifices artists make. We celebrate all the fools who struggle but passionately try to achieve our artistic dreams," Platt said in the acceptance speech.
The PGA has matched the Oscar for best picture in 19 of its 27 years, though it diverged last year when the Zanuck award went to "The Big Short" and the Oscar went to "Spotlight".
Netflix's first season of sci-fi horror series "Stranger Things" took the Norman Felton Award for TV drama series.
Oscar-nominated miniseries "OJ: Made in America" won the documentary award for Ezra Edelman and Caroline Waterlow while "The People v OJ Simpson: American Crime Story" won the David L. Wolper Award for outstanding producer of long-form television.
Disney's Oscar-nominated "Zootopia" won the animated movie trophy for producer Clark Spencer.
NBC's "The Voice" won the reality competition trophy.
The evening saw multiple declarations opposing President Donald Trump's controversial executive order barring US entry to citizens from Syria, Iraq, Iran, Sudan, Libya, Somalia, and Yemen.
PGA co-presidents Lori McCreary and Gary Lucchesi also attacked Trump's policy in opening remarks.