Everything You Need to Know About the 2016 Oscars

Updated on 1/29/2016 at 4:00 PM

Award season is in full swing, and the Oscars are almost here! Now that we are nearly a month away from one of the most anticipated award ceremonies of the year, the host of the show has been revealed and the Oscar nominations have been announced. But not everyone is happy with the Academy's choices; Jada Pinkett Smith, George Clooney, and director Spike Lee all weighed in on the lack of diversity in this year's nominations.

Meanwhile, this could be the year that Leonardo DiCaprio takes home his first Oscar after being nominated for best actor for his groundbreaking performance in The Revenant. Read on for all the details, then check out this year's first-time nominees.

The Date

The 88th annual Academy Awards will take place on Feb. 28 at the Dolby Theatre in Hollywood and will air on ABC at 5:30 p.m. PST/8:30 p.m. EST.

The Host

Chris Rock will be returning to host the Oscars for the second time (you may remember him hosting the show back in 2005). In a statement to the Academy, the comedian said, "I’m so glad to be hosting the Oscars. It’s great to be back."

The Nominees

Oscar nominees were announced on Jan. 14, with eight films dueling it out for best picture this year. The Revenant scored 12 nominations, but Mad Max: Fury Road was not far behind with 10 nominations. Meanwhile, The Martian was all over the list with seven nominations, and Jennifer Lawrence racked up her fourth Oscar nod in six years for her role in Joy.

The Parties

The Governors Ball: The fete is the official Oscars afterparty and this year, it will take place at the Hollywood and Highland Center in LA. Last year, a bevy of famous faces, including Julianne Moore, Emma Stone, and John Legend, attended the soiree.
Vanity Fair Oscar Party: Vanity Fair will host its annual bash at the Wallis Annenberg Center For the Performing Arts in Beverly Hills, CA. We caught a glimpse of Jennifer Aniston, Jared Leto, and Beyoncé at last year's event.
Elton John's AIDS Foundation party: The Elton John AIDS Foundation will host its annual Academy Awards viewing dinner and afterparty at the Pacific Design Center in West Hollywood. Last year's bash included stars like Miley Cyrus, Heidi Klum, and Gigi Hadid.
The Night of 100 Stars Gala: The 26th annual soiree will take place at the Beverly Hilton Hotel in Beverly Hills and will be hosted by Norby Walters. Guests include entertainment industry executives, TV stars, and actors, as well as previous Oscar winners and nominees.
The Weinstein Company party: The bash will take place at the members-only Soho House in West Hollywood. Guests from previous years included Leonardo DiCaprio, Katy Perry, and Meryl Streep.

The Controversy

Ever since this year's Oscar nominees were announced, there has been a lot of controversy surrounding the nominations. Not only were there several snubs and surprises, but there has been an entire debate about the lack of diversity, resulting in #OscarsSoWhite coming back. Stars like David Oyelowo, George Clooney, and Idris Elba have all weighed in on the subject, as well as Jada Pinkett Smith — who even went as far as to boycott the show.

In a Facebook video, which Jada appropriately titled "We must stand in our power," the actress explained her decision, saying, "I can't help but ask the question: Is it time that people of color recognize how much power, influence that we have amassed, that we no longer need to ask to be invited anywhere?" Days later, former Fresh Prince of Bel-Air actress Janet Hubert responded to Jada, saying, "Girlfriend, there's a lot of sh*t going on in the world that you all don't seem to recognize. People are dying. Our boys are being shot left and right. People are hungry . . . and you're talking about some motherf*cking actors and Oscars. It just ain't that deep."

The Suspense

After taking home a Golden Globe for his performance in The Revenant earlier this year, Leonardo DiCaprio is up for best actor in a leading role at the Oscars. In a statement, the actor said, "I am so grateful to the Academy for their recognition of this film. Making The Revenant was one of the most rewarding and collaborative experiences of my life. None of this would have been possible without Alejandro [González Iñárritu]'s talent, vision, and determination. Our dedicated crew also deserves to share in this moment. Together, they have created a truly unique cinematic experience. Congratulations to all of my fellow nominees this season. Thank you to the Academy."

While this is Leo's fifth nomination overall, the actor has yet to receive an Oscar. We're keeping our fingers crossed hoping this is his lucky year!