Talk about a star-studded event.

The 94th Academy Awards will take place on Sunday, March 27, at the Dolby Theatre in Hollywood. The award ceremony has experienced declining numbers of viewers in recent years, so they've made a few changes this year to reel the audience back in. There'll be more live performances, comedy skits, and even a new 'Fan Favourite' award, which is voted for by the public online.

Who will present?

An all-female panel will host this year (yay) featuring Regina Hall, Amy Schumer and Wanda Sykes. The show's producer, Will Packer, said: "I know the fun Regina, Amy and Wanda will be having will translate to our audience as well. Many surprises in store! Expect the unexpected!" There's also an extensive list of celebrities who'll be presenting awards including Lady Gaga, Jamie Lee Curtis, Jennifer Garner, Anthony Hopkins, Samuel L. Jackson, Mila Kunis, Lily James and many, many more.

Who is performing?

Both Beyoncé and Billie Eilish have been nominated for Best Original Song, and both artists will be performing said song on the night. Beyoncé will sing Be Alive from the film King Richard, while Billie and her brother, singer-songwriter Finneas, will perform No Time Die from the latest James Bond movie. Meanwhile, Colombian singer Sebastián Yatra will sing Dos Oruguitas from the Disney movie Encanto and American country music singer Reba McEntire will perform Somehow You Do from the Four Good Days movie soundtrack.

Ones to Watch

Two films are predicted to be named Best Picture, The Power of the Dog and CODA. However, hugely popular Irish movie Belfast is still in with good chance of taking home the award. In the Best Actor category, it's looking like it might be third time lucky for Will Smith. The 53-year-old has been nominated for Best Actor twice in the past, but his performance as Richard Williams in King Richard was definitely Oscar-worthy. For Best Actress, Jessica Chastain has been singled out as the most likely winner for her role in The Eyes of Tammy Faye. Meanwhile Irish actress Jessie Buckley is up for Best Supporting Actress for The Lost Daughter. Belfast-born filmmaker Kenneth Branagh is nominated in the best director category and actor Ciarán Hinds is up for best supporting actor - both for the movie Belfast. Check out the full list of nominees here. The ceremony kicks off at 1am Irish time. You can watch the ceremony live if you have Sky Cinema, or a with  Cinema Membership on NOW. If not, RTÉ2 will broadcast the Oscars at 9.35pm on Monday 28 April.