There's the Oscars, the Emmys, the Tonys, all celebrating entertainment with a side of red carpet fashion. 

And then there's the yearly Met Gala, where everything is about the fashion. 

The Met Gala is arguably fashion's biggest night, an annual fundraising gala for the Metropolitan Museum of Art where invited celebrities walk the red carpet and celebrate Costume Institute’s newest exhibition at the museum. This year's exhibit: “Camp: Notes on Fashion.”

What happens inside the Gala is a closely guarded secret. The main event for the public is the red carpet outside. 

Here's what to know about this year's Met Gala.

Who hosts the Met Gala? The Metropolitan Museum of Art and the Costume Institute are the hosts, while the event is organized by Vogue Magazine. Want to attend? Good luck. Anna Wintour, the editor in chief of Vogue Magazine, has the final say on who gets to go — one must be invited by Wintour and tickets are $35,000 apiece. Lady Gaga, Harry Styles, Serena Williams and Alessandro Michele of Gucci will serve as co-chairs.

The theme. This year's theme is "Camp: Notes on Fashion." Not the tents and s'mores kind of camping, but the "anti-serious, playful" stuff we all love. Expect some over-the-top looks, as guest are instructed to dress on-theme. Last year's theme was "Heavenly Bodies: Fashion and The Catholic Imagination."

“Camp: Notes on Fashion” explores the origins of camp’s exuberant aesthetic and how the sensibility evolved from a place of marginality to become an important influence on mainstream

— The Met (@metmuseum)May 6, 2019

When does it start? The Met Gala starts at 5:30 p.m. EST. 

How to watch. While you can't actually stream the Met Gala, Vogue is planning some extensive coverage. Vogue (@voguemagazine) will stream an Instagram Live and Vogue Snapchat My Stories with celebrity interviews and red carpet views. Vogue's Twitter account will offer frequent updates as the guests arrive. 

Why does it matter? A hard question — most will say it doesn't matter at all. But those in the fashion industry count on the Met Gala as one of the year's most significant events, the "Oscars of the East Coast" if you will. If anything, it gives the rest of us non-celebrities a chance to play fashion critic for a night. 

Pay attention to Rihanna. That's all. She wins the Met Gala every year, even though there are no real winners. 

hope the queen of the#MetGala is having a wonderful day

— The FADER (@thefader)May 6, 2019