Hollywood getting set for the 88th Academy Awards

Celebrities have arrived to embrace their historic moment at the 88th Annual Academy Awards at Hollywood.

Leonardo DiCaprio, who has famously never won an Oscar despite receiving four nominations before this year’s show, is the favorite to win best actor for his intense performance in the survival thriller “The Revenant.”

Brie Larson has been nominated for Best Actress for her role in “Room,” while Cate Blanchett is nominated for Best Actress for her role in "Carol."

The event this year is under fire for its lack of diversity. For the second consecutive year, there were no minorities nominated in any of the four major acting categories. That inspired the hashtag “#OscarsSoWhite" and has fueled the debate over Hollywood’s diversity problem.