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As it happened: Glitz, glam, winners and losers from the 88th Academy Awards

ONE News Now live updates have now concluded for the 88th Academy Awards at the Dolby Theatre in Hollywood.

6.05pm That wraps up our coverage from this year's Oscars ceremony. Head to ONE News on TV One to catch up on the glitz, glam, winners and losers from the evening. 

6.00pm Spotlight wins Best Picture, its second Oscar for the night. 

5.54pm The Oscar for Best Actor in a Leading Role goes to Leonardo DiCaprio, his first ever Academy Award win. 

After 6 nominations, Dicaprio won the Oscar for his role in The Revenant at the 88th Academy Awards.

5.46pm Brie Larson wins the Oscar for Best Actress in a Leading Role, her first Academy Award. 

"Thank you for going to the theatre and seeing our films," an emotional Larson said. 

5.35pm The Oscar for Best Directing goes to Alejandro G. Inarritu for The Revenant.

"I cant believe this is happening right now," he says.

"Leo, you are The Revenant, thank you for giving your soul, your art, your life.

5.27pm Writing's On The Wall wins Oscar for Best Original Song.

"I actually can't breathe right now," says singer Sam Smith. 

"I want to dedicate this for the LGBT community around the world, I stand here as a proud gay man."

5.22pm The Hateful Eight wins the Oscar for Best Original Score. 

5.15pm Lady Gaga performs an emotionally-charged version of Til It Happens To You, which received a nomination for Best Original Song.

Gaga is joined by tens of sexual abuse victims, with writing on their arms including "It's not your fault" and "Survivor".

The performance receives a standing ovation, with stars including Kate Winslet and Rachel McAdams visibly moved by the song.  

5.08pm The Oscar for Best Foreign Language Film goes to Son of Saul, a Hungarian film. 

5.00pm Stutterer wins Best Foreign Film. 

4.55pm Cheryl Boon Isaacs, President of the Academy, has acknowledged this year's diversity debate in a speech.

"I am confident that together we can shape a future of which all of us can be proud," she said.

"Tonight is also a time to talk about the future... Our audiences are global and rich in diversity, and every facet of our industry should be as well.

"Everyone in the Hollywood community has a role to play to bring about the vital changes the industry needs so we can accurately reflect the world today.

"We must take action, while change is often difficult it is neccessary."

4.42pm The Oscar for Best Feature Documentary goes to Amy, the story of the late Amy Winehouse.

"This film was about showing the world who Amy really was," said director Asif Kapadia.

"This is for Amy's fans who loved her through thick and thin.

4.40pm A Girl In The River: The Price of Forgiveness wins Best Short Subject Documentary.

"This is what happens when determined woman get together," said director Sharmeed Obaid-Chinoy

Louis C.K., left, presents Sharmeen Obaid-Chinoy with the award for best documentary short for A Girl in the River: The Price of Forgiveness. Source: Associated Press

4.38pm The Weeknd performed his hit single Earned It, for which he received a Best Original Song nomination. 

4.30pm The Oscar for Best Supporting Actor goes to Mark Rylance for his performance in Bridge of Spies. 

"Ive always just adored stories… So for me to work with the greatest storyteller of our time, Steven Spielberg, has been such an honour," said Rylance. 

4.24pm Chris Rock has pulled a stint to help his two daughters "sell more Girl Scout cookies".

"I haven’t been there to help them, and last night my youngest asked 'Daddy why don’t we sell the most cookies?'," Rock said. 

"It would mean so much to my daughters… If you could reach into your millionaire pockets."

4.11pm Pixar animated film Inside Out has won the award for Best Animated Feature Film.

Jonas Rivera, left, and Pete Docter accept the award for best animated feature film for Inside Out at the Oscars. Source: Associated Press

"Every single storyboard, frame... Pixel was done by the amazing artists at Pixar," said director Pete Docter. 

"This film was really born from watching our kids grow up.

"All the teenagers out there, you're going to feel angry, sad and scared. 

"Make stuff, draw, write, it'll make a world of difference."

4.08pm Bear Story takes out the Oscar for Best Animated Short Film.

"Wow... We are really happy right now," says Pato Escala.

"This is the first Oscar for our country Chile, so this is very important for us."

4.00pm Best Visual Effects goes to film Ex Machina, its first award for the night. 

3.52pm Six awards now! Mad Max: Fury Road has taken out the Oscar for Best Sound Mixing.

"Thanks to all the Australians."

3.50pm The award for Best Sound Editing goes to Mad Max: Fury Road, remarkably its fifth Oscar of the night. 

"Mad Max is a film we see with our ears," said sound editor David White.

"I'm so, so proud to work on a loud, loud film."

3.39pm Mad Max: Fury Road wins its fourth Oscar for Best Film Editing. 

"Us Mad Maxer's are doing okay tonight," said film editor Margaret Sixel. 

3.36pm The award for Best Cinematography goes to The Revenant. 

3.26pm Mad Max: Fury Road picks up its third award! The film takes out Best Makeup and Hairstyling.

Colin Gibson, left, and Lisa Thompson accept the award for best production design for “Mad Max: Fury Road” at the Oscars. Source: Associated Press

3.24pm Best Production Design goes to Mad Max: Fury Road, its second win for the night. 

3.20pm Jenny Beaven wins the Oscar for Best Costume Design for her work in film Mad Max: Fury Road.

"What another lovely day," she says simply.

"It was a year of our lives... We had the most amazing crew."

3.10pm Best Actress in a Supporting Role goes to Alicia Vikander for The Danish Girl. 

"I share this with our fabulous crew and cast," a breathless Vikander says.

"Eddie, thank you for being the best acting partner, you raised my game.

"My mum and dad, thank you for giving me the belief that anything can happen, even though I would never have believed this."

3.07pm Sam Smith performs a haunting version of Writing's On The Wall, the song he received an Oscar nomination for. 

3.00pm Chris Rock is carrying on the theme of addressing the lack of black people nominated for Oscars, with a parody of black actors in films featuring white actors. 

Oscar nominated films were reinvented to show the struggles of black actors trying to get on screen. Source: SKY

Stacy Dash, the woman who slammed Jada Pinkett-Smith for boycotting the Oscars and said it was “ludicrous” that people were getting upset, is bought out on stage.

"I cannot wait to help my people out, happy Black History Month," says Ms Dash.

2.52pm Best Adapted Screenplay goes to The Big Short.

"Most of all, if you don't want big money to control government, don't vote for Canada... Stop," said director Adam McKay.

2.47pm Spotlight wins Best Original Screenplay.

Tom McCarthy says the film was made for "all the journalists, keeping them accountable". 

2.35pm Host Chris Rock has kicked off the Oscars with a bang, launching into the widely discussed race debate.

Host Chris Rock speaks at the Oscars on Sunday at Dolby Theatre. Source: Associated Press

The audience appears to appreciate Rock's humour.

"What happened? Spike went mad, Jada went mad, Will went mad," he said.

"It's also not fair that Will made $20 million for Wild Wild West.

"If you want black nominees every year, you need to have black categories.

"You already do it with men and woman."

2.25pm The red carpet is beginning to wrap up as nominees and stars prepare for the Academy Awards ceremony. 

2.10pm Titanic fans around the world are rejoicing as Leonardo DiCaprio and Kate Winslet arrive together on the red carpet.

Leonardo DiCaprio, left, and Kate Winslet arrive at the Oscars at the Dolby Theatre. Source: Associated Press

Both are nominated this year, DiCaprio for Actor in a Leading Role and Winslet for Actress in a Supporting Role. 

2.00pm With only half an hour until kick-off, host Chris Rock could be forgiven for experiencing pre-show jitters as he goes through his lines, as seen in this Twitter picture. 

1.45pm Bryan Cranston supplied Ryan Seacrest with a cookie featuring his face, which was sadly dropped in transit. 

"Oh no, let that not be a sign" Seacrest said.

Olivia Wilde arrives at the Oscars at the Dolby Theatre in Hollywood. Source: Associated Press

Cranston is nominated for Actor in a Leading Role for his performance in film Trumbo. 

1.37pm Best Actress nominee Brie Larson revealed she ate burgers with Katy Perry at the last awards show.

"When I sat down about two minutes later, there was a hot in burger sitting in my seat."

Oscars 2014 host Ellen DeGeneres bought the audience pizza during her stint, will the same be provided for the hungry stars this year? 

1.28pm Racial diversity has been a widely-debated topic leading up to the Oscars, with many boycotting the show after the all-white nominations list was revealed. 

Singer and actress Bette Midler has kicked off the conversation today with a controversial tweet.

"The Oscars are today! You know, the awards show where Leonardo DiCaprio is 'overdue' but black people can 'wait till next year.'"

1.20pm At just 21-years-old, Saoirse Ronan is nominated for Actress in a Leading Role for her performance in film Brooklyn.

The actress compared the awards show to the first time she attended at just 13-years-old. 

"Its completely different because I know people now… It's lovely," she said. 

"When I was here before it was my very first awards show.. it was so huge."

1.15pm Sylvester Stallone has arrived, nominated for Actor in a Supporting Role for his much-talked about performance in the film Creed. 

12.56pm Is there an award for cutest actor? Room star Jacob Tremblay speaks about the struggle of being a 9-year-old at the Oscars.

"I can see lots of legs, that's my perspective."

Alicia Vikander, nominated for Actress in a Supporting Role, wows in Louis Vuitton at the 88th Academy Awards. Source: Associated Press

Eddie Redmayne, nominated for Actor in a Leading Role, arrives at the Oscars. Source: Associated Press

12.50pm The red carpet is really starting to ramp up now, as nominees Eddie Redmayne and Alicia Vikander arrive at the Dolby Theatre. 

12.37pm Singer Sam Smith, who is nominated for Best Original Song, drinks a cup of tea on the red carpet ahead of the awards show.

"To the queen," he says while toasting his tea cup. 

12.30pm Actor and comedienne Mindy Kaling told E! News present Ryan Seacrest how she felt about being cast as a character named Disgust in Pixar animated film Inside Out.

"I'm gonna call my attorney, Pixar you're done," she joked. 

12.20pm Before they hit the red carpet, stars are hitting social media to share their Oscars outfits with followers. Nominees Sylvester Stallone and Sam Smith both hit Instagram to show off their outfits. 

Sophie Howard has been offered the trip of a lifetime, rubbing shoulders with Oscar nominees. Source: Seven Sharp

12.00pm In case you missed it, check out this Wellington mum who is currently in Hollywood and set to showcase her organic tea to the Oscar nominees. 

11.45am Actor and comedian Chris Rock is hosting the Oscars this year, but first the guy has to eat. He shared a Twitter video of his pre-show McDonald's drive-thru trip.  

A sweating Jack Tame has all you need to know about getting through the Oscars. Source: 1 NEWS

11.30am Welcome to ONE News Now's live coverage from the Oscars! Before the formalities begin, check out Jack Tame's top tips to get you through the awards show. 

Oscar statue. Source: 1 NEWS