Oscars 2018: 6 Interesting Facts About the Annual Awards Show 

The 90th annual Academy Awards will air Sunday evening on ABC, with comedian and talk show host Jimmy Kimmel returning to host. But there's a lot more to the ceremony than what films are nominated and who the stars are wearing.

Impress friends at your watch party with these little-known facts about Hollywood's biggest night.

Here's how Oscar got his name

There are many theories regarding how the Academy Awards trophy earned his name, but one story cited by The Hollywood Reporter suggests it has to do with former executive director Margaret Herrick's uncle.

Shortly after the awards debuted in 1929, Herrick said the golden male standing atop a black base resembled her Uncle Oscar. Soon after, Hollywood gossip columnist Sidney Skolsky used the name "Oscar" to refer to actress Katharine Hepburn's 1934 best actress win for Morning Glory. The name of the statue, which weighs 8.5 pounds and is 13.5 inches tall, grew in popularity, but the Academy didn't officially begin using the name until 1939.

How much does that red carpet look cost?

It's no secret that the stars attending the Academy Awards are decked out in costly gowns and accessories. But the price tag is astonishing: The most expensive looks can total $10 million, according to data from Wallet Hub. The average attendee's ensemble is less—hovering around $1.5 million—and the price significantly dips for first-time nominess: $266,000.

What's the price of the show?

Each year, the Academy releases an annual financial report regarding the ceremony's total cost. According to The Guardian, the 2016 filing indicated the organization spent $44 million on mounting event, with "related activities" adding more, including $260,000 for the annual nominee's luncheon and $1.8 million for the official after party. Producing the live show is estimated to cost between $21 million and $22 million.

Diversity among nominees is improving—modestly

Hollywood—and especially the Academy Awards—have been historically bad when it comes to recognizing diversity in race and gender. So it's exceptional that Jordan Peele (Get Out) and Greta Gerwig (Lady Bird) received nominations in the best director category, typically a white male bastion. In fact, it's only the second time a black man and a woman have been nominated for best director at the same time: in 2010, Lee Daniels was nominated for Precious, and in 2008 Kathryn Bigelow was nominated for The Hurt Locker—she won, becoming the first woman to win the award.

Voters are more diverse, too

In an effort to avoid the #OscarsSoWhite campaign that made headlines in 2016, former Academy president Cheryl Boone Isaacs called for changes to the Academy's roster of voters to keep pace with the industry's "more inclusive" environment. The result: the voter's lineup in 2018 is the Academy's most diverse ever: 39 percent are women and 30 percent are people of color. Notable names like Gal Gadot, Dwayne Johnson and Anna Faris were among the list of 774 new members invited to join the Academy.

Oscars winner 2017
Actors Mahershala Ali, Emma Stone, Viola Davis and Casey Affleck are pictured posing in the press room during the 89th Annual Academy Awards at Hollywood & Highland Center with their Oscars tropys on February 26, 2017 in Hollywood, California. Getty Images

What's the cost of an Oscar commercial?

ABC is charging a hefty fee for 30-second commercials airing during the 2018 Oscars: roughly $2.6 million per spot, according to Variety. Pricey? No doubt. But the Super Bowl still wins for most expensive real estate, with $5 million per ad—that's 48 percent more than what ABC's charging for the Oscars.