This Day in History: br First Academy Awards Ceremony May 16, 1929 The first awards ceremony br was thought up by MGM mogul, Louis B. Mayer. Styled more as a dinner party br than how we know the Oscars today, br the event included about 250 people. Before this first ceremony br was conducted, the winners br had already been announced. The purpose of the ceremony was br to honor the awardees and to present br them with their Oscar statuettes. 'Wings' and 'Sunrise' were the br first films to be awarded as br the best films of the year. Emil Jannings won the Best Actor br award and Janet Gaynor won br in the Best Actress category.