The Venice Film Festival (Italian Mostra Internazionale 'Arte Cinematografica di Venezia) is the oldest film festival in the world. Founded by Count Volpi di Misurata in 1932 as the "Esposizione Internazionale d'Arte Cinematografica", the festival has since taken place every year in late August or early September on the island of the Lido, Venice, Italy. Screenings take place in the historic Palazzo del Cinema on the Lungomare Marconi. It is one of the world's most prestigious film festivals and is part of the Venice Biennale, a major biennial exhibition and festival for contemporary art.