The Academy Awards, also known as the Oscars, is an annual awards ceremony honoring outstanding achievements in the film industry. Established in 1929, it recognizes excellence in various categories, including acting, directing, and writing, among others. The awards are presented by the Academy of Motion Picture Arts and Sciences and are considered one of the most prestigious accolades in the film world. Winning an Oscar can significantly boost a film's visibility and success, making it a highly coveted honor for filmmakers and actors alike.