The term 'Cinematic Award' can be summarized by the five-letter word 'OSCAR'. The Academy Awards, commonly known as the Oscars, are an annual awards ceremony hosted by the Academy of Motion Picture Arts and Sciences to recognize excellence in cinematic achievements. The awards are given in 24 categories, including Best Picture, Best Director, and Best Actor/Actress. The Oscars are widely considered to be the most prestigious awards in the film industry.