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The Oscars, or Academy Awards, are an annual tradition in the city of movies, Hollywood. The first statuettes were awarded in 1929 where Cecil B. DeMille and Douglas Fairbanks hosted the show. A full 5,835 film professionals sit on the Academy panel, which decides which movies to nominate and award. The record for most Oscars awarded to a single movie is split between "Ben Hur", "Titantic" and "The Lord of the Rings - The Return of the King" that all won 11 Oscars. Katharine Hepburn is the actress who has won the most individual Oscars: Four in total.