"Cameron tastes the wine, Cameron likes the wine, Cameron buys the wine, " says Christopher Welch, a wine broker at Ciatti Company.

FORBES: Wine Workout

Previous recipients of the accolade include James Cameron, Clint Eastwood, Peter Jackson and Christopher Nolan.

BBC: Ben Affleck to receive Modern Master honour

Directors Martin Scorsese, Christopher Nolan, David Fincher, David Lynch, James Cameron, Danny Boyle, George Lucas and cinematographers Wally Pfister (Inception, The Dark Knight) and Roger Deakins (Skyfall, True Grit) are all present.

BBC: Side By Side: Keanu Reeves examines the future of film