The Academy Awards, better known as the Oscars, are awards for artistic and technical merit for the American film industry. The awards are regarded by many as the most prestigious, significant awards in the entertainment industry in the United States. Given annually by the Academy of Motion Picture Arts and Sciences (AMPAS), the awards are a recognition of excellence in cinematic achievements of primarily American films, as assessed by the Academy's voting membership. The various category winners are awarded a copy of a golden statuette as a trophy, officially called the "Academy Award of Merit", although more commonly referred to by its nickname, the "Oscar." The statuette, depicting a knight rendered in the Art Deco style, was originally sculpted by Los Angeles artist George Stanley from a design sketch by art director Cedric Gibbons. The 1st Academy Awards were held in 1929 at a private dinner hosted by Douglas Fairbanks in The Hollywood Roosevelt Hotel. The Academy Awards ceremony was first broadcast by radio in 1930 and was televised for the first time in 1953. It is the oldest worldwide entertainment awards ceremony and is now televised live worldwide. It is also the oldest of the four major annual American entertainment awards; its equivalents – the Emmy Awards for television, the Tony Awards for theater, and the Grammy Awards for music – are modeled after the Academy Awards. A total of 3,140 Oscar statuettes have been awarded since its inception in 1929. History The first Academy Awards presentation was held on May 16, 1929, at a private dinner function at The Hollywood Roosevelt Hotel with an audience of about 270 people. The post-awards party was held at the Mayfair Hotel. The cost of guest tickets for that night's ceremony was $5 ($ at 2020 prices). Fifteen statuettes were awarded, honoring artists, directors and other participants in the film-making industry of the time, for their works during the 1927–28 period. The ceremony ran for 15 minutes. For this first ceremony, winners were announced to the media three months earlier. For the second ceremony in 1930, and the rest of the first decade, the results were given to newspapers for publication at 11:00 pm on the night of the awards. In 1940, the Los Angeles Times announced the winners before the ceremony began; as a result, the following year the Academy started using a sealed envelope to reveal the names of the