Start dusting off your red carpets because the award shows are approaching quickly. Whether you watch for the celebrities, for the movies you love, or because you have nothing better to do on a Sunday night, the shows are always entertaining, to say the least.

If you're a movie buff, you might even want to take your viewing a step further. When I first heard the idea of hosting an award show watch party, I was enthralled.

Hanging out with friends, appreciating great movies, and getting bragging rights for guessing the winners correctly? Sounds like the perfect event. Here's everything you'll need for your own extravagant night.

First, the preparation. Send out invitations to friends in the style of the envelopes celebrities read off of to announce winners. Dress-ware: Fancy. Tell them to go all out in tuxes and heels if they want to.

Along with the invites, send them ballots with the nominees listed for each category. Have them fill out their predictions.

Now for the night itself. All you really need is a couch, some food, and a TV. However, depending on the level of how much effort you'd like to put in, there's a lot more that could be done. Decorate the living room with printed out posters of the nominated movies. Buy some confetti, streamers, the whole shebang. Roll out a red carpet on your walkway.

Food can either be approached as a serious meal or with proper theater food. Put out several bags of popcorn, dollar store candy, and soda.

When guests arrive, perhaps you and a friend can be outside taking pictures and pretending to be paparazzi. Or, once inside, have a nice backdrop set up and take guests' pictures with a Polaroid camera.

After that, everyone can sit back, relax and enjoy the ceremony. By the end of the night, there will be a winner to claim their trophy prize (or whichever prize you decide). This is one of the best ways to celebrate the films you appreciate with the people you love.