On Sunday evening the stars amassed in Hollywood to celebrate all that is good and great about cinema from the past 12 months.
The big story of the night was South Korea's Parasite sweeping to victory not only claiming Best Foreign Language film but also Best Original Screenplay, Best Director and the biggest shock of them all Best Picture.
It marks the first time a film not in the English language has won the big award on the night, proving not only to be a significant moment in history but also very popular amongst cinephiles and fans of director Bong Joon-ho.
Elsewhere on the night, the acting awards went to Joaquin Phoenix, Renee Zellweger, Laura Dern and Brad Pitt, the latter of which used his speech to take a swipe at the US senators who voted against having witnesses, including John Bolton, speak at Trump's impeachment trial.
In fact, Pitt was producing all sorts of gold on the night.
Joaquin Phoenix, whose performance in Joker saw him win Best Actor, had used his acceptance speech at the Bafta's to talk out against systemic racism and asked the awards bodies to do better.
His acceptance speech at the Oscars was a little different as he chose to talk about milk and artificially inseminating a cow instead and the internet responded with memes.
In the audience, teen music sensation Billie Eilish caught everyone's attention for her baffled reaction to Maya Rudolph and Kristen Wiig's seemingly improvised announcement of the Best Costume Design and Production Design categories.
James Corden and Rebel Wilson, who presented the award for Best Visual Effects which went to 1917, dressed as their characters from the much-maligned commercial flop Cats, which made for some truly surreal imagery.
Janelle Monae's incredible performance in the opening musical number of the show also won a lot of love, especially when she should 'Oscars so white.'
Natalie Portman, despite not being nominated for anything did make a statement by having all the names of the female directors that were snubbed sewn into the Dior cape that she was wearing.
It wasn't just the big names in Hollywood that were making headlines. Matthew Cherry, who directed the Best Animated Short film Hair Love shared a tweet from 2016 asking for help on an 'Oscar-worthy short film' which sure enough turned out to be the film he would end up winning the gong for.
Cherry's confidence is clear for all to see, as he also said he was going to win an Oscar in 2012. Any chance he knows what the lottery numbers are?
Lastly, we'll leave you with Martin Scorsese, whose film The Irishman came away empty-handed on the night, who could barely keep his eyes open during a performance of 'Lose Yourself' by Eminem.