Definition of Academy awards

The Academy Awards, popularly known as the Oscars, are 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 among the most prominent and most watched film awards ceremonies in the world. The 1st Academy Awards ceremony was held on Thursday, May 16, 1929 at the Hollywood Roosevelt Hotel in Hollywood to honor outstanding film achievements of 1927 and 1928. It was hosted by actor Douglas Fairbanks and director William C. DeMille. Most recently, the 79th Academy Awards ceremony was held on Sunday, February 25, 2007 at the Kodak Theatre in Hollywood to honor outstanding film achievements of 2006. It was hosted by day-time television  talk show host Ellen DeGeneres. The 80th Academy Awards ceremony is scheduled for Sunday, February 24, 2008 and will be hosted by Comedy Central's The Daily Show host, Jon Stewart. AMPAS, a professional honorary organization, maintains a voting membership of 5,830 as of 2007. Actors constitute the largest voting bloc, numbering 1,311 members (22 percent) of the Academy's composition. Votes for Oscars have been tabulated and certified by the auditing firm PricewaterhouseCoopers (and its predecessor Price Waterhouse) for the past 72 annual awards ceremonies.