In 1973 the American Film Institute initiated its Life Achievement Award, to be presented to a yearly recipient whose talent has fundamentally advanced the film art; whose accomplishments have been acknowledged by scholars, critics, professional peers and the general public; and whose work has stood the test of time.
An annual American awards ceremony honoring cinematic achievements in the film industry. The various category winners are awarded a copy of a statuette, officially the Academy Award of Merit, that is better known by its nickname Oscar.