They were recognized on the shortlist, though.
When the Oscars shared its shortlist for Best Original Song back in December, both Beyoncé and Pharrell were recognized. Bey was included for “Spirit” from The Lion King, and Pharrell and Chad Hugo for “Letter to My Godfather” from The Black Godfather. However, their songs weren’t deemed strong enough to qualify for nods in the end. Instead, the award will go to either Randy Newman’s “I Can’t Let You Throw Yourself Away” (Toy Story 4), Elton John and Bernie Taupin’s “(I’m Gonna) Love Me Again” (Rocketman), Diane Warren’s “I’m Standing With You” (Breakthrough), Idina Menzel’s “Into The Unknown” (Frozen 2) or Cynthia Erivo’s “Stand Up” (Harriet).
“Spirit” appeared on the companion album that Beyoncé curated for The Lion King remake. Lion King: The Gift featured Jay-Z, Kendrick Lamar, Childish Gambino, Tierra Whack and many more.