The Academy of Motion Pictures, Arts and Sciences awards the Oscars every year for the very best in Motion Pictures over the past year. While there are many awards ceremonies over the year, the Oscars are the most coveted.
Many people make a television party for the evening, preparing foods and snacks, boning up on the nominees, and friendly guessing and betting as to who will be the winners. Historical facts of past Oscars and winners become popular "Did you Know" conversations in work, on radio talk shows and at home.
People watch the awards to see what the actors and actresses will wear as much as they do to see who wins. The next day there will be lists and talk about the best dresses, the worst dressed, and the least dressed.