Robert Redford wanted to "speak frankly" on how he felt about his Oscar snub for his role in "All is Lost."

During an opening news conference for the Sundance Film Festival on Thursday, Redford, 77, said the domestic distributor, Roadside Attractions, didn't really get "All is Lost" much attention, according to The Hollywood Reporter.

Roadside, which is partly owned by Lionsgate, distributed and marketed the film.

Read: Hanks, Redford, 'Butler' Among Oscar Snubs

"Hollywood is what it is. It's a business and so when these films go to be voted on, usually they're heavily dependent on campaigns," Redford said during the news conference.

The acting icon continued, "In our case I think we suffered from little to no distribution. And so as a result, our distributors - I don't know why - they didn't want to spend the money, they were afraid, they were just incapable, I don't know."

Redford added that he wasn't upset, because "it's a business."

See The Full 2014 Oscar Nominations List Here

Here's who, instead, got nominated for Best Actor:

Christian Bale, "American Hustle"

Bruce Dern, "Nebraska"

Leonardo DiCaprio, "The Wolf of Wall Street"

Chiwetel Ejiofor, "12 Years a Slave"

Matthew McConaughey, "Dallas Buyer's Club"

(Photo Credit: Cindy Ord/Getty Images)