This is news to me, but the Oscars was established by Louis B. Mayer in 1929. The man who would go on to on to become the second ‘M’ in MGM studios. His motivation was, in his own words: “I found that the best way to handle [filmmakers] was to hang medals all over them ... If I got them cups and awards, they'd kill[ ]to produce what I wanted. That's why the Academy Award was created".