For more than a century since the Academy Awards or Oscars as they are referred to by the general people, have been an important event in the world of culture. The Academy Awards recognize the top performers in the field each year. They honor directors and actors as also producers and others who have been working hard to make stories come alive in the grand screen.

It's worthwhile to look back 40 years to discover how far we've come.

1. Sasha Czack and Sly Stallone Sasha Czack and Sly Stallone, young Sly walking on the red carpet

Remember the time when Rocky was the second-largest film franchise, following Terminator? Here's Stallone with his first wife, who is confident after the movie's release Rocky III.