The Oscars

The Academy Awards (frequently known as the Oscars) are accolades presented annually by the Academy of Motion Picture Arts and Sciences (AMPAS) to recognize excellence of professionals in the film industry, including directors, actors, and writers. The formal ceremony at which the awards are presented is one of the most prominent award ceremonies in the world. It is also the oldest award ceremony in the media, and many other award ceremonies such as the Grammy Awards (for music), Golden Globe Awards (all forms of visual media), Tony Awards (for theatre), and Emmy Awards (for television) are often modeled from the Academy. The Academy of Motion Picture Arts and Sciences itself was conceived by Metro-Goldwyn-Mayer studio boss Louis B. Mayer.

Source: Wikipedia.org