The Golden Raspberry Awards (also known as the Razzies and Razzie Awards) is a parody award show honoring the worst of cinematic "failures". Co-founded by UCLA film graduates and film industry veterans John J. B. Wilson and Mo Murphy, the Razzie Awards' satirical annual ceremony is preceded by its opposite, the Academy Awards, by 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 Super 8mm film reel atop a 35-millimeter film core with brown wood shelf paper glued and wrapped around it—sitting atop a jar lid spray-painted gold, with an estimated street value of $4.97. The Golden Raspberry Foundation has claimed that the award "encourages well-known filmmakers and top-notch performers to own their bad."