Hollywood is a district in Los Angeles known for its movie studios and stars, having established the first studio in 1911 which produced 80% of the world's films by 1920. The Oscars are an annual American awards ceremony presented by the Academy of Motion Picture Arts and Sciences to honor achievements in the film industry, with winners receiving Academy Awards. Other major awards that recognize television, theater, and music include the Emmys, Tonys, and Grammys.