Paris Photo was created in 1996 and is the most prestigious art fair dedicated to historical and contemporary photography. This fair takes place annually at the Grand Palais in Paris mid-November and at the Paramount Pictures Studios in Los Angeles at the end of April. Over the past 16 years, Paris Photo has become a significant event for collectors of contemporary and modern art, photography professionals, artists, as well as for an ever-growing audience of art appreciators. Each edition is unique and brings together a distinguished selection of exhibitors with diverse collections focused on the photographic medium. A public program is also an important component of the fairs which is built around cultural events involving artists, art world professionals, collectors, and cultural institutions.