Trivia: What awards tradition made its debut in 1929?
The correct answer is Academy Awards
So why is this answer correct? : The Oscars, or Academy Awards, have been around for nearly 100 years, after being conceived in 1927 as the brainchild of MGM studio head Louis B. Mayer. As for the first Best Picture winner? The film “Wings,” which was the most expensive movie of the time with a budget of around $2 million (more than $30 million today).