The Grammy Awards, or simply known as the Grammys, are awards presented by the Recording Academy of the United States to recognize "outstanding" achievements in the music industry. They are regarded by many as the most prestigious, significant awards in the music industry worldwide. It was originally called the Gramophone Awards, as the trophy depicts a gilded gramophone. The Grammys are the first of the Big Three networks' major music awards held annually, and is considered one of the four major annual American entertainment awards, alongside the Academy Awards, the Emmy Awards, and the Tony Awards. The first Grammy Awards ceremony was held on May 4, 1959, to honor the musical accomplishments of performers for the year 1958. After the 2011 ceremony, the Recording Academy overhauled many Grammy Award categories for 2012.