In 1982, after the inception of the Film Academy of the Philippines Awards, the Philippine equivalent of the Oscars was mandated by the Philippine government, FAMAS was unofficially relegated as secondary to Luna Awards, but is still held in high regard because of its age and prestige.
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FAMAS Award is one of the highly distinguished film award bodies in the country.
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Forerunner of the FAMAS Award was the Maria Clara Awards, established by the Manila Times Publishing, Inc under the tutelage of Dr Alejandro Roces in 1951.
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FAMAS Award was somewhat designed after the Academy of Motion Picture Arts and Sciences of the United States and was originally named Academy of Motion Picture Arts and Sciences of the Philippines before AMPAS protested against the usage of their name.
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FAMAS Award stands on a black cylindrical pedestal, which is encircled with a thin gold leaf that bears the initials and full name of FAMAS in big black letters, the awards ceremony, the category in which it was won, the name of the winner, the place where it was given and the signature of the FAMAS President.
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On May 6,2003, due to non-compliance with reportorial requirements, the corporate charter of the FAMAS Award was revoked by the Securities and Exchange Commission.
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Tiu, FAMAS Award ceased to exist as a registered organization of the Securities and Exchange Commission on May 26,2003.
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In 2017, FAMAS partnered with MEGAVISION, headed by Donna Sanchez, to uplift the aging award-giving body.
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FAMAS Award-winning screenwriter Ricardo “Ricky” Lee, agreed to be the jury chairman.
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The FAMAS Award thus became a celebration of Filipino film artists for cinematic excellence.
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