HomeNewsTrendsEntertainment95th Academy Awards: Why are the Oscars so important to the global film industry and to us?

95th Academy Awards: Why are the Oscars so important to the global film industry and to us?

Despite the many criticisms hurled at the Academy Awards each year, all eyes turn to the Oscars telecast. Here’s why the 94-year-old institution continues to matter

March 11, 2023 / 15:30 IST
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As of 2020, the Academy of Motion Picture Arts and Sciences had 9,921 members. Drawn from film industries around the world, these members are also the Academy's voter base. (Image via The Oscars/Wikimedia Commons)
As of 2020, the Academy of Motion Picture Arts and Sciences had 9,921 members. Drawn from film industries around the world, these members are also the Academy's voter base. (Image via The Oscars/Wikimedia Commons)

For nearly a century, the Academy of Motion Picture Arts and Sciences has handed out the Oscars to a selection of films, filmmakers, actors and crew who have, in their view, done exceptional work. The Oscars are the biggest annual event in film. The anticipation around the Oscars is always high; every aspect, from host to presenter to entertainment reported and nominations, is debated with all the zeal of a Presidential campaign. In fact, studios, production houses, filmmakers and actors actively campaign for their triumph: there's a lot of meetings, screenings, and showing up to pitch reasons why they deserve to win.

Every year, every second of the Oscars telecast is picked apart. When the occasional Chris Rock-Will Smith incident crops up, or a star turns up in something truly outre, like Barbra Streisand in her sheer pants suit at the 41st Oscars, the award show decimates the news cycle. At the same time, every year, one layer of the Internet begins to question the relevance of the Oscars. Why does an American institution deserve to be taken seriously in 2023, they ask, at a time when the West is no longer the singular axis around which the entertainment world rotates?

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Also read: Oscars' most memorable moments

The Oscars does, in fact, have a long, contentious history; and the Academy’s influence has waned and waxed over decades. Yet, the obvious answer for its endurance as a cornerstone of popular culture is simply that they are the oldest of their kind. The first Oscars were awarded in May 1929, two years after the Academy of Motion Pictures Arts and Sciences was set up in 1927. The Hollywood Foreign Press Association began giving away Golden Globes in 1944; the first BAFTA were handed out at Odeon Cinema in London’s Leicester Square in 1949.