The Academy Awards, also known as the Academy Award, Academy Awards, Oscars (The Oscars), is the world's most prestigious film awards, and the three major international film festivals in Europe (, , ) and known as the world's four most prestigious film awards. The Oscars, which began in 1928, are awarded by the Academy of Motion Picture Arts and Sciences, which was founded by Louis B. Mayer, the founder of MGM studios, and are held once a year in Hollywood.