Oscar Award is the most prestigious award ceremony of Hollywood, held on an annual basis. It has assumed the shape of a mega event and everyone associated, directly or indirectly, with Hollywood eagerly waits for the Oscar night. The popularity of Academy Awards has increased with the passing time. Looking back into the history of Oscars, we see that the awards were the brainchild of the Academy of Motion Picture Arts and Sciences (AMPAS), formed in 1927. The formation of the academy was a collaborative effort of 36 most prominent individual of the motion picture industry.
Film actor Douglas Fairbanks, Sr. was chosen as the first president of the Academy. The main purpose behind the establishment of the awards was to honor the talented artists of the Motion Picture Industry. The first Academy Awards ceremony was organized on May 16, 1929, at the Hollywood Roosevelt Hotel, away from the public eye. It was a very private affair, with only two hundred seventy people as guests. The awards were given in the banquet, set up at the hotel’s Blossom Room. The tickets for the guest tickets cost $5.