1st Academy Awards 1st Academy Awards The 1st Academy Awards ceremony, presented by the Academy of Motion Picture Arts and Sciences (AMPAS), honored the best films of 1927 and 1928 and took place on May 16, 1929 at a private dinner held at the Hollywood Roosevelt Hotel in Los Angeles, California. AMPAS president Douglas Fairbanks hosted the show. Tickets cost $5 (which would be $ in considering inflation), 270 people attended the event and the presentation ceremony lasted 15 minutes. Awards were created by Louis B. Mayer, founder of Louis B. Mayer Pictures Corporation (at present merged into Metro-Goldwyn-Mayer). It is the only
Academy Awards Beatty and Dunaway were invited back as announcers for Best Picture winner, which they accomplished without error. The following events are closely associated with the annual Academy Awards: It has become a tradition to give out gift bags to the presenters and performers at the Oscars. In recent years, these gifts have also been extended to award nominees and winners. The value of each of these gift bags can reach into the tens of thousands of dollars. In 2014, the value was reported to be as high as US$80,000. The value has risen to the point where the U.S. Internal