The announcement of the nominations for the 90th Academy Awards, most commonly known as the 'Oscars' has sent Twitter into an online frenzy. #OscarsNoms and #Oscars are trending worldwide.
So what is all the fuss about?
The Oscars are the most prestigious event of the Hollywood Award Season. To win an Oscar is considered by many in the film industry to be the pinnacle of an actor or directors career
The Academy consists of 6,000 film industry professionals such as actors, directors and producers and the nominees are chosen through a vote by the nominees peers.
There are 24 categories with a wide range of awards to be won.
The awards ceremony was first broadcast on the radio in 1930 and televised for the first time in 1953. It is now seen live in more than 200 countries and can be streamed live online. In 2015, it was watched by 37.3 million viewers! This year you can watch live via the Oscars website.
What happens next?
This afternoon the Oscar nominations were announced. The next stage is waiting for the Oscars Ceremony itself which will be held on 4th March at the Dolby Theatre in Los Angeles, California.
At the ceremony, we will find out who the big winners are!
Who is tipped to win?
The film with the most nominations (13) is 'The Shape of Water' a low budget fantasy about a mute janitor who falls in love with an imprisoned sea creature. One nomination fewer than the record for the most in the Oscar's history.
In the leading actor category, Gary Oldman's been tipped as the man to beat for his role as Winston Churchill in "Darkest Hour"
Whilst for the leading actress category, the early awards for the season have been scooped up by Frances McDormand for her work as an ornery mother out to revenge her daughters rape and murder.
The journey to the #Oscars has begun.