Blue movies BAFTA recognised at last! (3)
I believe the answer is:
sad
'blue' is the definition.
(similar in meaning)
'movies bafta recognised at last' is the wordplay.
'at last' says to take the final letters.
The last letters of 'movies bafta recognised' are 'SAD'.
(Other definitions for sad that I've seen before include "low" , "Mournful - sorry" , "Regrettable" , "A form of depression in winter, initially" , "Melancholy, depressed" .)