The 27th Academy Awards were held on March 30, 1955, to honor the best films of 1954, hosted by Bob Hope at the RKO Pantages Theatre in Hollywood with Thelma Ritter hosting from the NBC Century Theatre in New York City.
In an upset (Bing Crosby was the favored nominee), Brando won, now seen as one of the greatest Best Actor wins in Oscar history.
[1] This was Brando's fourth consecutive nomination for Best Actor (starting with A Streetcar Named Desire in 1951), a record that remains unmatched to this day.
In an even bigger upset, Grace Kelly won Best Actress for The Country Girl over Judy Garland, who was heavily favored to win for A Star Is Born.
[2] Garland could not attend the ceremony, having recently given birth to her third child; cameramen were present in her home so she could give an acceptance speech, only to awkwardly leave when Kelly was announced as the winner.