The event, now in its 25th year, gives thespians and fellow luvvies from the French theatre world the chance to indulge in some self-congratulatory back slapping.
It's broadcast live on French television because of course it's part of the country's cultural heritage, but sadly it doesn't really pull in very high ratings.
This year's edition, carried on France 2, attracted fewer than two millions viewers; a shame really as the show was far from being as dull as many might have feared and indeed featured something of a highlight that made quite a buzz both on the Net and the mainstream media.
It was the performance given by Michel Fau.
Michel Fau, (screenshot from YouTube clip)
The actor-director wasn't actually at the ceremony to be awarded anything.
Instead he was what might be called "light relief"
He entered dressed to the nines as an opera diva and gave a rather special version of Carla Bruni-Sarkozy's "Quelqu'un m'a dit".
The whole thing was an excerpt from his 2010 show in Paris "L'Impardonnable Revue Pathétique Et Dégradante De Monsieur Fau" in which he performed music-hall style tributes in appropriate garb of some of his favourite singers.
It was of course a parody and most in the audience seemed to find it amusing, including the minister of culture Frédéric Mitterrand and two women rather close to France's first lady; her sister, Valeria Bruni-Tedeschi, and her mother Marisa Borini.
Well that's how some initially interpreted the reaction of Bruni-Sarkozy's family.
But as the website of, among others, the weekly news magazine Nouvel Observateur pointed out, the smiles of the two women looked just a little too determined and forced for the camera.
Borini in particular was apparently far from pleased at Fau's onstage antics.
And according to the French celebrity website Purepeople.com, the first lady's mother allowed her "displeasure to be felt backstage, after the awards ceremony was over."
Oh well, it was just a bit of harmless entertainment, and surely Borini has heard more harmful comments and statements directed towards her daughter over the years.
And let's face it, Fau's performance gives the song...er...something extra.
Take a listen to both videos for a direct comparison.
Enjoy and oh yes, don't forget to smile.