The Golden Raspberry Awards (also known in short terms as Razzies and Razzie Awards) is a parody award show honoring the worst of cinematic under-achievements. Co-founded by UCLA film graduates and film industry veterans John J. B. Wilson and Mo Murphy, the Razzie Awards' satirical annual ceremony has preceded its polar opposite, the coveted Academy Awards, for four decades. The term raspberry is used in its irreverent sense, as in "blowing a raspberry". The statuette itself is a golf ball-sized raspberry atop a mangled Super 8 mm film reel spray-painted gold, with an estimated street value of $4.97. The award that encourages well-known filmmakers and top notch performers to "own their bad."